There is also a S-1 Amendment for another company, Pantheon China Acquisition Corp, originally filed Aug 14.
Pantheon China Acquisition Corp – STILL IN REGISTRATION
Number of units being offered: 5,000,000
Proposed price per unit: $6.00
Terms of deal: One share of common stock and 2 warrants to purchase one additional share of common stock at $5.00 per share.
Underwriter: EarlyBirdCapital, Inc.
Proposed ticker symbols
Common stock: Not known
Warrants: Not known
Units: Not known
Common shares to be outstanding subsequent to IPO: 6,250,000
Shares to be held by public shareholders: 5,000,000
Shares held by insiders: 1,250,000
Percentage held by public shareholders: 80.00%
Gross proceeds being raised: $30 million
Net proceeds to be held in escrow: $28.450 million (includes $0.300 million of offering costs deferred by the underwriter and $1.250 million from the sale of warrants to certain of the insiders)
Escrowed proceeds per share applicable to future public shareholders: $5.69
Date of IPO: N/A
Date of original filing: August 14, 2006
Current stock price
Common stock: N/A
Warrants: N/A
Units: N/A
Insider shares: 1,250,000 shares purchased at $.02 per share. Total proceeds: $25,000.
Restrictions on insider shares: The common shares shall remain in escrow until one year after the consummation of an acquisition.
Other insider requirements: Certain of the insiders have agreed to purchase 2,083,334 warrants at $0.60 per warrant in a private placement prior to the offering. Total proceeds: $1.250 million.
The underwriters have also agreed to defer $0.300 million of their fees until the company completes an acquisition.
In the event that the company is liquidated, neither the insiders nor the underwriters will receive any of the escrowed proceeds.
Description of business:
We are a recently organized Delaware blank check company incorporated on April 10, 2006 in order to serve as a vehicle for a business combination of an operating business that has its principal operations located in the People’s Republic of China. Our efforts to identify a prospective target business will not be limited to a particular industry.
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