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Technology Stocks : Blank Check IPOs (SPACS)

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To: Glenn Petersen who wrote (297)12/17/2005 11:09:35 AM
From: Glenn Petersen  Read Replies (1) of 3862
 
Endeavor Acquisition Corp. completed its IPO on December 15, 2005, selling 15,000,000 million units at $8.00 per unit. The gross proceeds totaled $120.0 million, down considerably from the $200 million that the company was looking to raise when it filed its initial S-1 in mid-September. There is no word yet as to whether or not the underwriter has exercised its over-allotment option. The company is going to be focusing its acquisition efforts in the service business sector.

Jonathan J. Ledecky is the president of Endeavor. Mr. Ledecky, a sometimes controversial figure, founded U.S. Office Products in 1994 and completed over 260 acquisitions until his departure from U.S. Office Products in 1998.

The securities are listed on the American Stock Exchange. The units (EDA-U) closed at $8.00 on Friday. The common shares (EDA) and warrants (EDA-W) are not yet trading.

The final prospectus:

sec.gov
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