Tremisis Energy Acquisition Corp.
Number of units sold: 6,325,000
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: EarlyBird Capital
Ticker symbols
Common stock: TEGY
Warrants: TEGYW
Units: TEGYU
Common shares outstanding subsequent to IPO: 7,700,000
Shares held by public shareholders: 6,325,000
Shares held by insiders: 1,375,000
Percentage held by public shareholders: 82.1%
Gross proceeds raised: $37,950,000
Net proceeds held in escrow: $32,763,500
Escrowed proceeds per share held by public shareholders: $5.18
Date of IPO: May 13, 2004
Date of original filing: March 12, 2004
Current stock price (as of January 7, 2005)
Common stock: $5.01
Warrants: $..75
Units: $6.70
Description of business: Tremisis Energy Acquisition Corporation is a blank check company recently formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Our objective is to acquire an operating business in either the energy or environmental industry and their related infrastructures.
Biographical information for significant officer: Lawrence S. Coben has been our chairman of the board and chief executive officer since our inception. From January 2001 until December 2003, Mr. Coben served as senior principal of Sunrise Capital Partners L.P., a private equity firm established by Houlihan Lokey Howard & Zukin, an international investment banking firm that invests capital in middle market companies. From January 1997 to December 2000, Mr. Coben was an independent consultant. From October 1994 to December 1996, Mr. Coben was chief executive officer of Bolivian Power Company, Ltd., a New York Stock Exchange-listed company that was one of Bolivia's largest private electric generator and distributor until its sale to an American-Swedish utility consortium. He was also a managing director of Liberty Power Latin America, L.P., a private developer and owner of power facilities, from January 1993 to December 1996. He has served as a director of Prisma Energy, one of the successor Enron companies, since September 2003. Mr. Coben has also been a director of NRG Energy, Inc. since December 2003, when he was appointed in connection with its plan of reorganization following its emergence from Chapter 11 bankruptcy. Mr. Coben is a member of the board of directors of the Bolivian-American Chamber of Commerce and was the co-chairman of the Lieberman 2004 National Energy Policy Committee which has devised a plan (the Declaration of Energy Independence) to reduce American dependence on politically unstable sources of energy. Mr. Coben is also an archaeologist affiliated with the University of Pennsylvania and is completing a doctorate in Anthropology. Mr. Coben received a B.A. in economics from Yale University, an M.A. in Anthropology (Archaeology) from the University of Pennsylvania and a J.D. from Harvard School of Law.
SEC filings: sec.gov |
