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Technology Stocks : Blank Check IPOs (SPACS)
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To: jrhana who wrote (1265)10/30/2007 7:31:07 AM
From: jrhana  Read Replies (1) of 3862
 
I came accross this comment about EII:

<I found one odd little company to include in this article: Energy Infrastructure Acquisition Corp. (EII - commentary - Cramer's Take). On its Web site, it refers to itself as a "business combination company" with the intention of buying one or more companies "that supports the process of bringing energy ... from production to final consumption throughout the world."

So far it has not bought anything, so the IPO proceeds (about $250 million) are drawing interest in the bank. This is really a blank-check corporation. Whatever it buys could turn out to be a home run, or it could fail miserably. For now, there is nothing to invest in.

The reason I mention it is that the concept is innovative; the company is in no hurry and could perhaps be a trial balloon for the future of the asset class, even if it is to show where infrastructure should not go.>

thestreet.com
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