MJ,
Silicon Graphics is probably not a good candidate for an acquisition by a blank check company. I don’t think that any of the blank check companies are interested in acquiring an entity that is already public. The idea is to use the cash rich shells to take private companies public.
I see that SGI is sporting a market cap of only $212 million. Wow! In the mid-90s, I worked with a virtual reality company that created a state-of-the-art headset. Our software guys were working on a virtual reality engine when the company hit the wall. The engine was being developed on a cutting-edge SG box. Their high-end boxes were all back ordered. How the mighty have fallen.
The blank check IPOs are starting to attract some attention. To date, 31 blank check companies have gone public, raising gross proceeds in excess of $1.6 billion. Another 35 companies have filed registration statements and are looking to raise an additional $3.1 billion. Only two of the companies have actually completed acquisitions and three others have announced transactions. The units for these five companies are all trading at a premium to their original offering price.
Four companies filed this week, including one named Acquicor Acquisitions Corp. This is going to be a very sexy deal – well, sexy by blank check company standards – and it should probably generate a fair amount of publicity. The three principals are Gilbert F. Amelio, who was the former CEO and Chairman for both National Semiconductor and Apple Computer, Ellen M. Hancock, the former CEO and Chairman of Exodus Communications, and Steve Wozniak, a co-founder, with Steve Jobs, of Apple Computer.
I am going to be posting a ton of summary information over the next two days. Welcome the thread.
Regards,
Glenn |
