SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Blank Check IPOs (SPACS)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Glenn Petersen who wrote (626)12/20/2006 8:57:01 PM
From: Glenn Petersen  Read Replies (1) of 3862
 
Transforma Acquisition Group, Inc. completed its IPO today, selling 12,500,000 units at $8.00 per unit. The gross proceeds totaled $100 million, down significantly from the $150 million that the company was looking to raise when it filed its initial S-1 on September 12, 2006. A total of $98.5 million, equal to $7.88 per common share, has been placed into an escrow account. This balance includes $3.72 million in fees that have been deferred by the underwriter and $3 million from the sale of warrants to certain of the insiders. In the event that the company is liquidated, neither the underwriter nor the insiders will receive any of the funds placed into the escrow account.

Each unit consists of one share of common stock and a warrant to purchase an additional share at $5.50 per share.

Transforma Acquisition Group, Inc. is going to focus its efforts on acquiring an operating company in the technology, media or telecommunications industries.

There is no word yet as to whether or not the underwriter has exercised its over-allotment option.

The securities will be listed on the American Stock Exchange. The units (TAQ-U) have started trading and closed today at $7.97. The common shares (TAQ) and warrants (TAQ-W) will begin trading separately at a later date.

The final prospectus:

sec.gov
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News