An update on the blank check IPOs:
Since August 2003, 33 blank check companies have gone public, raising gross proceeds totaling $1,721,626,221. Another 43 companies have filed registration statements and are looking to raise an additional $3,757.680,004.
Two companies have actually completed acquisitions, and another five companies have deals pending. In each instance, the securities of the blank check companies that have either completed or announced deals are trading at levels above their original offering prices.
Millstream Acquisition, which went public on August 25, 2003, completed its acquisition of NationsHealth, Inc. on August 31, 2004. The common shares and warrants last traded at $7.95 and $2.95, respectively, giving the units, which last traded at $14.00, a value of $13.85. The units were originally priced at $6.00.
The twelve month low for the warrants was $1.45.
International Shipping Enterprises, which went public on December 14, 2004, completed its acquisition of Navios Maritime Holdings, Inc. on August 25, 2005. The common shares and warrants last traded at $5.89 and $1.24, respectively, giving the units, which last traded at $8.40, a value of $8.37. The units were originally priced at $6.00.
The twelve month low for the warrants was $.84.
Chardan China Acquisition, which went public on March 17, 2004, announced on December 20, 2004 that it was acquiring four Chinese companies engaged in the production and sale of agricultural seeds. The common shares and warrants last traded at $9.70 and $4.74, respectively, giving the units, which last traded at $19.00, a value of $19.18. The units were originally priced at $6.00.
The twelve month low for the warrants was $.61.
Trinity Partners Acquisition, which went public on July 30, 2004, announced on January 18, 2005 that it was acquiring Adventure Holdings. The Class A common shares and warrants last traded at $4.30 and $1.00, respectively, giving the Class A units, which last traded at $16.00, a value of $18.60. The Class B common shares and warrants last traded at $5.30 and $1.05, respectively, giving the Class B units, which last traded at $12.90, a value of $12.70. The Class A and Class B units were originally priced at $10.50 and $10.10, respectively.
The twelve month lows for both the Class A and Class B warrants was $.55.
CEA Acquisition, which went public on February 13, 2004, announced on August 22, 2005 that it was acquiring etrials Worldwide. The common shares and warrants last traded at $5.35 and $1.14, respectively, giving the units, which last traded at $7.65, a value of $7.63. The units were originally priced at $6.00.
The twelve month low for the warrants was $.60.
Rand Acquisition Corporation, which went public on November 2, 2004, announced on September 6, 2005 that it was acquiring Lower Lakes Towing Ltd. and Grand River Navigation Company, Inc. on September 6, 2005. The common shares and warrants last traded at $5.55 and $1.06, respectively, giving the units, which last traded at $7.60, a value of $7.67. The units were originally priced at $6.00.
The twelve month low for the warrants was $.60.
Great Wall Acquisition Corporation, which went public on March 19, 2004, announced on September 13, 2005 that it was acquiring ChinaCast Communication Holdings Limited. The common shares and warrants last traded at $5.22 and $1.14, respectively, giving the units, which last traded at $6.45, a value of $7.50. The units were originally priced at $6.00.
The twelve month low fo the warrants was $.58.
The SI discussion thread:
Subject 55438
Companies that are already public and looking for deals:
Message 21674268
Companies currently in registration:
Message 21674299
Acquicor Technology, Inc made one of the more interesting recent blank check filings on September 2, 2005. The three primary principals of the company are Gilbert F. Amelio, 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.
Message 21670750 |
