Another blank check company, TAC Acquisition Corp., has filed an S-1. The deal is being underwritten by EarlyBirdCapital. The company is going to focus its acquisition efforts in the technology sector.
TAC Acquisition Corp. – STILL IN REGISTRATION
Number of units being offered: 20,000,000
Proposed price per unit: $6.00
Terms of deal: One share of common stock and warrants to purchase two shares of common stock at $5.00 per share.
Underwriters: Wedbush Morgan Securities, Inc.
Proposed ticker symbols
Common stock: Not known
Warrants: Not known
Units: Not known
Common shares to be outstanding subsequent to IPO: 25,000,000
Shares to be held by public shareholders: 20,000,000
Shares held by insiders: 5,000,000
Percentage held by public shareholders: 80.0%
Gross proceeds being raised: $120,000,000
Net proceeds to be held in escrow: $109,900,000
Escrowed proceeds per share applicable to future public shareholders: $5.50
Date of IPO: N/A
Date of original filing: March 17, 2005
Current stock price
Common stock: N/A
Warrants: N/A
Units: N/A
Description of business: We are a recently organized Delaware blank check company formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more operating businesses in the technology-related sector. To date, our efforts have been limited to organizational activities.
Biographical information for significant officer: Jonathan Cohen is our chairman and chief executive officer. In addition, Mr. Cohen serves as chief executive officer of Technology Investment Capital Corp., and its investment adviser, Technology Investment Management. Mr. Cohen is also the owner and a principal of JHC Capital Management, LLC, a registered investment adviser, and was previously a principal of Privet Financial Securities, LLC, a registered broker-dealer and financial consultant to small to medium-sized private and public technology companies. Prior to founding JHC Capital Management in 2001, Mr. Cohen managed technology research groups at Wit SoundView from 1999 to 2001. He has also managed securities research groups at Merrill Lynch & Co. from 1998 to 1999, and UBS Securities and Salomon Smith Barney from 1993 to 1997.
SEC filings: sec.gov |
