Blank Check IPOs (SPACS) Message Board

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Technology Stocks : Blank Check IPOs (SPACS)

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To: Glenn Petersen who wrote (661)	10/27/2006 4:48:56 AM
From: RockyBalboa	Read Replies (1) of 3862

Yes and I will pay attention to wording like this (see below): as they posted in their earlier PR. (see: Message 22872636 ) * Coastal's cash liquidation value per share as of August 31, 2006 was approximately $5.46 per share. * As of September 25th, current trading prices of Coastal common stock were below the estimated liquidation value per share. * Coastal warrant holders are not entitled to vote in the special meeting. * If holders of 20% or more of Coastal's common stock vote against the merger with Intercontinental then Coastal will be required to liquidate. Coastal's warrants are not entitled to participate in the proceeds from this liquidation. NB: it is also interesting to note that they simply stated "did not approve the transactions contemplated..." No word on how many attended, votes for/against etc. A little bit messy. Does not really build confidence; except that the pools are merely parking lots for unused capital.

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