Rick,
It has taken me six months, but I finally got around to updating my data base on the blank check companies. It was a painful task. My resolve for the remainder of the year is to keep my spreadsheets up to date.
Since August 2003, 107 blank check companies have gone public, raising gross proceeds totaling $9,238,147,833 (give or take a buck or two). Another 35 companies currently have registration statements on file with the SEC and are looking to raise an additional $3,459,920,610 (once again, give or take a buck or two). Seven other companies have pulled their registration statements, two of which subsequently went public on London’s AIM stock exchange where they raised gross proceeds totaling $381 million.
26 blank check companies have actually completed acquisitions, and another 24 companies have deals pending. Five companies have failed to close on their proposed acquisitions and are currently in liquidation.
Of the 26 blank check companies that have closed on acquisitions, 18 are trading above their offering prices, some at substantial premiums. All of the 24 companies that have deals pending are trading above their offering prices, which is not surprising when you take into consideration the fact that the non-insider shareholders will receive cash distributions if the acquisitions are not approved.
The updated information can be found at:
Summary information as of June 15, 2007
Summary notes
Message 23633381
Summary statistics
Message 23633454
Profiles of closed deals
Message 23633485
Summary information for companies with closed deals
Message 23633516
Profiles of open deals
Message 23633548
Summary information for companies with open deals
Message 23633558
Summary information for companies without deals
Message 23633582
Summary information for companies still in registration
Message 23633588
Profiles of companies being liquidated
Message 23633596
Summary information for companies in liquidation
Message 23633602
Summary information for companies that have withdrawn their U.S. registration statements
Message 23633608 |
