Blank Check IPOs (SPACS) Message Board

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Technology Stocks : Blank Check IPOs (SPACS)

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To: jrhana who wrote (1744)	4/21/2008 3:00:55 PM
From: Glenn Petersen	Read Replies (2) of 3862

FMG has already filed its preliminary proxy materials: sec.gov The claims history on page 92 highlights the risks associated with their hurricane exposure. Also, see page F-18 in the financial statements. The common shares are trading at $7.28, a huge discount to the December 31 liquidation value of $7.97. The warrants, which have an exercise price of $6.00, are trading at $.50. The company has until October 4, 2009 to complete the transaction. It would take 30% of the shareholders to block the deal. I have to confess that I don't know enough about the insurance industry to give an opinion on this transaction.

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