Lazarre,
Okay, let's give this a shot. There are three blank check companies that will have to liquidate if they do not sign acquisition agreements with the next three months. To date, no blank check company has been forced into liquidation because it was unable to sign a deal, though two are liquidating because they could not close on their deals.
The warrants for two of these companies are selling at a discount to their strike price.
Courtside Acquisition Corp.
Amount raised in IPO: $82.8 million
Date of IPO: July 1, 2005
Deadline for signing an acquisition agreement: January 7, 2007
Cash in escrow at September 30, 2006: $76.4 million
Current price for securities: The common shares (CRB) and warrants (CRB-WT) are trading this morning at $5.45 and $.29, respectively.
Strike price for warrants: $5.00
Acquisition focus: The entertainment, media, or communications industries.
Healthcare Acquisition Corp.
Amount raised in IPO: $75.2 million
Date of IPO: July 28, 2005
Deadline for signing an acquisition agreement: January 28, 2007
Cash in escrow at September 30, 2006: $70.3 million
Current price for securities: The common shares (HAQ) and warrants (HAQ-WT) are trading this morning at $7.43 and $1.20, respectively.
Strike price for warrants: $6.00.
Acquisition focus: Healthcare industry
Ad.Venture Partners, Inc.
Amount raised in IPO: $54 million
Date of IPO: August 26, 2005
Deadline for signing an acquisition agreement: February 28, 2007
Cash in escrow at September 30, 2006: $51.9 million
Current price for securities: The common shares (AVPA.OB) and warrants (AVPAW.OB) are trading this morning at $5.58 and $.20, respectively.
Strike price for warrants: $5.00
Acquisition focus: Technology, media, communications
FWIW, I have small warrant positions in each of the above companies. Please remember that the warrants are very speculative and very thinly traded. You have to be very careful when placing an order.
Regards,
Glenn |
