Another blank check company, Stone Arcade Acquisition Corp., has filed an S-1. The deal is being underwritten by Morgan Joseph. The company is going to focus its acquisition efforts in the paper, packaging, forest products and related industries.
Stone Arcade Acquisition Corp. – STILL IN REGISTRATION
Number of units being offered: 30,000,000
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: Morgan Joseph
Proposed ticker symbols
Common stock: Not known
Warrants: Not known
Units: Not known
Common shares to be outstanding subsequent to IPO: 37,500,000
Shares to be held by public shareholders: 30,000,000
Shares held by insiders: 7,500,000
Percentage held by public shareholders: 80.0%
Gross proceeds being raised: $180,000,000
Net proceeds to be held in escrow: $164,729,000
Escrowed proceeds per share applicable to future public shareholders: $5.48
Date of IPO: N/A
Date of original filing: May 3, 2005
Current stock price
Common stock: N/A
Warrants: N/A
Units: N/A
Description of business: Stone Arcade 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 unidentified operating business. We intend to focus on identifying a prospective target business in the paper, packaging, forest products and related industries, although our efforts will not be limited to any particular industry.
Biographical information for significant officer: Roger W. Stone has been our Chairman of the Board since our inception. Mr. Stone has been Manager of Stone-Kaplan Investments, LLC, a private investment company, since July 2004. He was Chairman and Chief Executive Officer of Box USA Holdings, Inc., a corrugated box manufacturer, from July 2000 until the sale of that company in July 2004. Mr. Stone was Chairman, President and Chief Executive Officer of Stone Container Corporation, a multinational paper company primarily producing and selling pulp, paper and packaging products, from March 1987 to November 1998 when Stone Container Corporation merged with Jefferson Smurfit Corporation, at which time he became President and Chief Executive Officer of Smurfit-Stone Container Corporation until March 1999. Mr. Stone serves on the boards of directors of McDonald’s Corporation and Autoliv Inc. Mr. Stone received a B.S. in Economics from the Wharton School at the University of Pennsylvania. Mr. Stone is the father-in-law of Matthew Kaplan.
SEC filings: sec.gov |
