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 (1127)	11/14/2007 3:49:10 PM
From: Glenn Petersen	Read Replies (1) of 3862

On July 25, 2007, KBL Healthcare Acquisition Corp. III announced that its underwriter had exercised all of its over-allotment option and purchased an addition 2,250,000 units at $8.00 per unit. A total of 17,250,000 units were sold to the public. The gross proceeds raised in the IPO were $138 million. The balance placed into the trust account was $133,930,000, equal to $7.76 per share. This balance includes $4.14 million of commissions deferred by the underwriter and $2.075 million what was raised through the sale of warrants to certain of the insiders. In the event that the company is liquidated, neither the underwriter nor the insiders purchasing the warrants will receive any of the funds placed in the escrow account. sec.gov

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