China Unistone Acquisition Corporation
Number of units sold: 3,450,000
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: CUAQ
Warrants: CUAQW
Units: CUAQU
Common shares outstanding subsequent to IPO: 4,200,000
Shares held by public shareholders: 3,450,000
Shares held by insiders: 750,000
Percentage held by public shareholders: 82.1%
Gross proceeds raised: $20,700,000
Net proceeds held in escrow: $17,595,000
Escrowed proceeds per share applicable to future public shareholders: $5.10
Date of IPO: November 24, 2004
Date of original filing: July 23, 2004
Current stock price (as of January 7, 2005)
Common stock: $5.15
Warrants: $.85
Units: $7.00
Description of business: China Unistone 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 that has its primary operating facilities located in the People's Republic of China.
Biographical information for significant officer: Chih T. Cheung has served as our chairman of the board since our inception. Mr. Cheung has served as senior advisor to the chairman of Chinatrust Commercial Bank, a leading commercial bank in Greater China, with operations in the United States, Hong Kong, Japan, China and elsewhere, since March 2003. Prior to this, Mr. Cheung co-founded and was the chief executive officer of HelloAsia Corporation, a company which provided outsourced marketing and communications software to corporations in Asia, from its inception in 1999 until February 2002. In February 2002, Mr. Cheung negotiated the merger of HelloAsia into Brience, Inc., a mobile integration software company, and served as executive vice president of Brience until February 2003. Prior to forming HelloAsia, Mr. Cheung co-founded and was the chief executive officer of Crimson Solutions, a technology company providing web-based recruiting and career management platforms for universities and corporations, from 1997 until 1998. Mr. Cheung graduated from Harvard College (summa cum laude), received an A.M. from Harvard Graduate School of Arts and Sciences, a J.D. from Harvard Law School and an M.B.A. from Harvard Business School.
SEC filings: sec.gov |
