SUMMARY INFORMATION - COMPANIES WITH CLOSED DEALS - MAY 22, 2009
ChinaCast Education Corp. (formerly Great Wall Acquisition Corporation)
Date of offering: March 19, 2004
Gross proceeds raised in offering: $27,095,850
Date of deal announcement: September 13, 2005
Number of days prior to announcement: 544
Date of deal close: December 22, 2006
Price per share (CEUC): $5.03
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Performance since IPO: -16.17%
Nasdaq Composite: -12.80%
SEC filings: sec.gov
Origin Agritech (formerly Chardan China Acquisition)
Date of offering: March 17, 2004
Gross proceeds raised in offering: $24,150,000
Date of deal announcement: December 20, 2004
Number of days prior to announcement of deal: 248
Date of deal close: November 9, 2005
Price per share (SEED): $4.93
Strike price of warrants: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Performance since IPO: -20.17%
Nasdaq Composite: -14.40%
SEC filings: sec.gov
RAM Energy Resources, Inc. (formerly Tremisis Energy Acquisition Corp.)
Date of offering: May 13, 2004
Gross proceeds raised in offering: $37,950,000
Date of deal announcement: October 21, 2005
Number of days prior to announcement: 526
Price per share (RAME): $0.82
Strike price (adjusted from $5.00): $4.25
IPO price per unit: $6.00
Original deal: One common share and two warrants
Performance since IPO: -200.67%
Nasdaq Composite: -12.15%
SEC filings: sec.gov
Hill International, Inc. (formerly Arpeggio Acquisition Corp.)
Date of offering: June 24, 2004
Gross proceeds raised in offering: $40,800,000
Date of deal announcement: December 5, 2005
Number of days prior to announcement: 529
Price per share (HIL): $4.00
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: None specified
Performance since IPO: -66.67%
Nasdaq Composite: -16.05%
SEC filings: sec.gov
St. Bernard Software, Inc. (formerly Sand Hill IT Security Acquisition Corp.)
Date of offering: July 27, 2004
Gross proceeds raised in offering: $24,660,000
Date of deal announcement: October 27, 2005
Number of days prior to announcement: 457
Price per share (SHQC): $0.18
Price per warrant (SHQCW): $0.00
Strike price: $5.00
Price per unit (SHQCU): $0.16
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: IT security
Expiration date for warrants: July 25, 2009
Performance since IPO: -96.98%
Nasdaq Composite: -9.47%
SEC filings: sec.gov
FreeSeas, Inc. (formerly Trinity Partners Acquisition Company, Inc.)
Date offering: May 10, 2004
Gross proceeds raised in offering: $9,059,125
Date of deal announcement: January 18, 2005
Number of days prior to announcement of deal: 253
Date of deal close: December 15, 2005
Price per share (FREE): $1.90
Price per Class W warrant (FREEW): $0.28
Price per Class A warrant (FREEZ): $0.26
Strike price: $5.00
IPO price per Class A unit: $10.50
IPO price per Class B unit: $10.10
Original deal: Class A units: Two shares of common stock and ten Class W warrants;
Class B units: Two shares of common stock and two Class Z warrants
Expiration date of Class W warrants: July 29, 2009
Expiration date of Class Z warrants: July 29, 2011
Performance since IPO: -57.23%
Nasdaq Composite: -10.35%
SEC filings: sec.gov
Rand Logistics, Inc. (formerly Rand Acquisition Corporation)
Date of offering: November 2, 2004
Gross proceeds raised in offering: $27,600,000
Date of deal announcement: September 6, 2005
Number of days prior to announcement: 308
Date of deal close: March 6, 2006
Price per share (RLOG): $3.50
Strike price (adjusted from $5.00): $4.50
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: None
Performance since IPO: -75.00%
Nasdaq Composite: -14.75%
SEC filings: sec.gov
Yucheng Technologies (formerly China Unistone Acquisition Corporation)
Date of offering: November 24, 2004
Gross proceeds raised in offering: $20,700,000
Date of deal announcement: December 20, 2005
Number of days prior to announcement: 391
Date of deal close: November 24, 2006
Price per share (YTEC): $7.37
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Performance since IPO: 101.83%
Nasdaq Composite: -19.53%
SEC filings: sec.gov
Navios Maritime Holdings, Inc. (formerly International Shipping Enterprises, Inc.)
Date of offering: December 14, 2004
Gross proceeds raised in offering: $196,650,000
Date of deal announcement: March 1, 2005
Number of days prior to announcement: 76
Date of deal close: August 25, 2005
Price per share (NM): $4.21
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Shipping
Performance since IPO: -56.17%
Nasdaq Composite: -21.66%
SEC filings: sec.gov
Avantair, Inc. (formerly Ardent Acquisition Corporation)
Date of offering: February 24, 2005
Gross proceeds raised in offering: $41,400,000
Date of deal announcement: October 3, 2006
Number of days prior to announcement: 586
Date of deal close: February 22, 2007
Price per share (AAIR): $1.75
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus:
Performance since IPO: -70.83%
Nasdaq Composite: -17.53%
SEC filings: sec.gov
Great Lakes Dredge & Dock (formerly Aldabra Acquisition Corporation)
Date of offering: February 24, 2005
Gross proceeds raised in offering: $55,200,000
Date of deal announcement: June 20, 2006
Number of days prior to announcement: 481
Date of deal close: January 4, 2007
Price per share (GLDD): $4.75
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: None specified
Performance since IPO: -29.17%
Nasdaq Composite: -17.53%
SEC filings: sec.gov
Global Telecom & Technology (formerly Mercator Partners Acquisition Corp.)
Date of offering: April 15, 2005
Gross proceeds raised in offering: $59,466,500
Date of deal announcement: May 24, 2006
Number of days prior to announcement: 404
Date of deal close: October 16, 2006
Price per share share (GTLT): $0.60
Price per Class A warrant (GTLTW): $0.00
Price per Class B warrant (GTLTZ): $0.00
Strike price: $5.00
IPO price per Class A unit: $10.50
IPO price per Class B unit: $10.10
Original deal: Class A units: Two shares of Class A common stock and ten warrants;
Class B units: Two shares of Class B common stock and two warrants
Expiration date of Class W warrants: April 10, 2010
Expiration date of Class Z warrants: April 10, 2012
Performance since IPO: -88.04%
Nasdaq Composite: -11.33%
SEC filings: sec.gov
ClearPoint Business Resources, Inc. (formerly Terra Nova Acquisition Corporation)
Date of offering: April 19, 2005
Gross proceeds raised in offering: $33,120,000
Date of deal announcement: August 19, 2006
Number of days prior to announcement: 487
Date of deal close: February 12, 2007
Price per share (CPBR): $0.29
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: None specified
Performance since IPO: -95.17%
Nasdaq Composite: -12.44%
SEC filings: sec.gov
Summer Infant, Inc. (formerly KBL Healthcare Acquisition Corp. II)
Date of offering: April 27, 2005
Gross proceeds raised in offering: $55,200,000
Date of deal announcement: September 5, 2006
Number of days prior to announcement: 512
Date of deal close: March 6, 2007
Price per share (SUMR): $2.01
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Healthcare
Performance since IPO: -66.50%
Nasdaq Composite: -12.35%
SEC filings: sec.gov
Jamba, Inc. (formerly Services Acquisition Corp. International)
Date of offering: June 30, 2005
Gross proceeds raised in offering: $138,000,000
Date of deal announcement: March 13, 2006
Number of days prior to announcement: 256
Date of deal close: November 29, 2006
Price per share (JMBA): $1.15
Price per warrant (JMBAW): $0.02
Strike price: $6.00
Price per unit (JMBAU): $1.08
IPO price per unit: $8.00
Original deal: One common share and one warrant
Expiration date of warrants: June 28, 2009
Performance since IPO: -85.44%
Nasdaq Composite: -17.74%
SEC filings: sec.gov
American Community Newspapers (formerly Courtside Acquisition Corp.)
Date of offering: July 1, 2005
Gross proceeds raised in offering: $82,800,000
Initial date of deal announcement: December 28, 2006
Number of days prior to announcement: 546
Date of deal close: June 28, 2007
Price per share (ACNI): $0.01
Price per warrant (ACNIW): $0.00
Strike price: $5.00
Price per unit (ACNI-U): $0.01
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Entertainment, media and communications
Expiration date for warrants: June 29, 2009
Performance since IPO: -99.76%
Nasdaq Composite: -17.76%
SEC filings: sec.gov
Aleritas Capital Corp. (originally Oakmont Acquisition Corp.)
Date of offering: July 14, 2005
Gross proceeds raised in offering: $51,450,996
Date of deal announcement: February 8, 2007
Number of days prior to announcement: 573
Date of deal close: July 18, 2007
Price per share (ARTAE): $0.00
Price per warrant (ARUWE): $0.00
Strike price: $5.00
Price per unit (ARUUE): $0.01
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Manufacturing and distribution
Expiration date for warrants: July 11, 2009
Performance since IPO: -99.96%
Nasdaq Composite: -21.40%
SEC filings: sec.gov
IXI Mobile, Inc. (formerly Israel Technology Acquisition Corp.)
Date of offering: July 14, 2005
Gross procees raised in offering: $37,908,000
Date of deal announcement: March 1, 2006
Number of days prior to announcement: 229
Date of deal close: June 6, 2007
Price per share (IXMO): $0.19
Price per warrant (IXMOW): $0.00
Strike price: $5.00
Price per unit (IXMOU): $0.03
IPO price per unit: $6.00
Original deal: One common share and two warrants
Expiration date for warrants: July 11, 2009
Performance since IPO: -96.83%
Nasdaq Composite: -21.40%
SEC filings: sec.gov
Juniper Content Corporation (formerly Juniper Partners Acquisition Corp.)
Date of offering: July 15, 2005
Gross procees raised in offering: $17,395,750
Date of deal announcement: August 16, 2006
Number of days prior to announcement: 397
Date of deal close: January 19, 2007
Price per share (JNPC): $0.02
Price per Class W warrant (JNPWE): $0.00
Price per Class Z warrant (JNPCZ): $0.00
Strike price: $5.00
IPO price per Class A unit: $10.50
IPO price per Class B unit: $10.10
Original deal: Class A units: Two shares of Class A common stock and ten warrants;
Class B units: Two shares of Class B common stock and two warrants
Acquisition focus: Media and entertainment industires
Expiration date for Class W warrants: July 12, 2010
Expiration date for Class Z warrants: July 12, 2012
Performance since IPO: -99.60%
Nasdaq Composite: -21.55%
SEC filings: sec.gov
Fortress International Group (formerly Fortress America Acquisition Corporation)
Date of offering: July 15, 2005
Gross procees raised in offering: $46,800,000
Date of deal announcement: June 6, 2006
Number of days prior to announcement: 326
Date of deal close: January 19, 2007
Price per share (FIGI): $1.28
Price per warrant (FIGIW): $0.01
Strike price: $5.00
Price per unit (FIGIU): $0.87
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Homeland security
Expiration date for warrants: July 12, 2009
Performance since IPO: -78.33%
Nasdaq Composite: -21.55%
SEC filings: sec.gov
PharmAthene, Inc. (Healthcare Acquisition Corp.)
Date of offering: July 28, 2005
Gross proceeds raised in offering: $75,200,000
Date of deal announcement: January 18, 2007
Number of days prior to announcement: 529
Date of deal close: August 3, 2007
Price per share (PIP): $2.09
Price per warrant (PIP-WT) $0.07
Strike price: $6.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Healthcare
Expiration date for warrants: July 27, 2009
Performance since IPO: -73.00%
Nasdaq Composite: -23.04%
SEC filings: sec.gov
HLS Systems International (formerly Chardan China North Acquisition Corp.)
Date of offering: August 4, 2005
Gross proceeds raised in offering: $34,500,000
Date of deal announcement: February 2, 2006
Number of days prior to announcement: 182
Date of deal close: September 20, 2007
Price per share (HOLI): $5.20
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: People's Republic of China
Performance since IPO: -6.67%
Nasdaq Composite: -22.79%
SEC filings: sec.gov
A-Power Energy Generation Systems (formerly Chardan China South Acquisition Corp.)
Date of offering: August 4, 2005
Gross proceeds raised in offering: $34,500,000
Date of deal announcement: April 14, 2007
Number of days prior to announcement: 621
Date of deal close: January 24, 2008
Price per share (APWR): $9.86
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: People's Republic of China
Performance since IPO: 226.33%
Nasdaq Composite: -22.79%
SEC filings: sec.gov
KapStone Paper and Packaging Corp. (formerly Stone Arcade Acquisition Corp.)
Date of offering: August 16, 2005
Gross proceeds raised in offering: $120,000,000
Date of deal announcement: June 26, 2006
Number of days prior to announcement: 314
Date of deal close: January 2, 2007
Price per share (KPCC): $3.93
Price per warrant (KPPCW): $0.20
Strike price: $5.00
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Paper, packaging and forest products
Expiration date for warrants: August 15, 2009
Performance since IPO: -27.83%
Nasdaq Composite: -20.83%
SEC filings: sec.gov
Equity Media Holdings Corp. (formerly Coconut Palm Acquisition Corp.)
Date of offering: September 9, 2005
Gross proceeds raised in offering: $69,000,000
Date of deal announcement: April 10, 2006
Number of days prior to announcement: 213
Date of deal close: April 2, 2007
Price per share (EMDAQ): $0.01
Price per warrant (EMDAWQ): $0.00
Strike price: $5.00
Price per unit (EMDAUQ): $0.01
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Business and consumer services
Expiration date for warrants: September 7, 2009
Performance since IPO: -99.83%
Nasdaq Composite: -22.22%
SEC filings: sec.gov
ATS Corporation (formerly Federal Services Acquisition Corp.)
Date of offering: October 20, 2005
Gross proceeds raised in offering: $126,000,000
Date of deal announcement: April 20, 2006
Number of days prior to announcement: 182
Date of deal close: January 16, 2007
Price per share (ATCT): $1.58
Price per warrant (ATCTW): $0.00
Strike price: $5.00
Price per unit (ACTC): $2.50
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Federal services and defense industries
Expiration date for warrants: October 19, 2009
Performance since IPO: -73.66%
Nasdaq Composite: -18.19%
SEC filings: sec.gov
Chem Rx Corporation (formerly Paramount Acquisition Corp.)
Date of offering: October 24, 2005
Gross proceeds raised in offering: $58,650,000
Date of deal announcement: August 28, 2006
Number of days prior to announcement: 308
Date of deal close: October 23, 2007
Price per share (CHRX): $0.91
Price per warrant (CHRXW): $0.00
Strike price: $5.00
Price per unit (CHRXU): $0.70
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Healthcare industry
Expiration date for warrants: October 20, 2009
Performance since IPO: -84.82%
Nasdaq Composite: -20.03%
SEC filings: sec.gov
Platinum Energy Resources, Inc.
Date of offering: October 26, 2005
Gross proceeds raised in offering: $115,200,000
Date of deal announcement: January 26, 2006
Number of days prior to announcement: 92
Date of deal close: November 1, 2007
Price per share (PGRI): $0.40
Price per warrant (PGRIW): $0.02
Strike price: $6.00
Price per unit (PGRIU): $0.80
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Oil and gas
Expiration date for warrants: October 23, 2009
Performance since IPO: -94.75%
Nasdaq Composite: -19.43%
SEC filings: sec.gov
American Apparel, Inc. (formerly Endeavor Acquisition Corp.)
Date of offering: December 15, 2005
Gross proceeds raised in offering: $129,285,960
Date of deal announcement: December 19, 2006
Number of days prior to announcement: 369
Date of deal close: December 12, 2007
Price per share (APP): $3.51
Strike price: $6.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: No specific industry
Performance since IPO: -87.25%
Nasdaq Composite: -25.15%
SEC filings: sec.gov
Star Bulk Carriers Corp. (formerly Star Maritime Acquisition Corp.)
Date of offering: December 16, 2005
Gross proceeds raised in offering: $200,000,000
Date of deal announcement: January 12, 2007
Number of days prior to announcement: 392
Date of deal close: November 30, 2007
Price per share (SBLK): $5.02
Price per warrant (SBLK): $0.36
Strike price: $8.00
IPO price per unit: $10.00
Original deal: One common share and one warrant
Acquisition focus: Shipping industry
Expiration date for warrants: December 15, 2009
Performance since IPO: -46.20%
Nasdaq Composite: -24.88%
SEC filings: sec.gov
Smart Balance, Inc. (formerly Boulder Specialty Brands, Inc.)
Date of offering: December 19, 2005
Gross proceeds raised in offering: $102,086,720
Date of deal announcement: September 26, 2006
Number of days prior to announcement: 281
Date of deal close: May 21, 2007
Price per share (SMBL): $7.77
Strike price: $6.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Food and beverage industries
Performance since IPO: 19.25%
Nasdaq Composite: -23.88%
SEC filings: sec.gov
Argyle Security Acquisition Corp.
Date of offering: January 25, 2006
Gross proceeds raised in offering: $30,600,368
Date of deal announcement: December 14, 2006
Number of days prior to announcement: 323
Cash in escrow account: $29,073,971
Price per share (ARGL): $0.86
Price per warrant (ARGLW): $0.20
Strike price: $5.50
Price per unit (ARGLU): $1.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Security industry
Expiration date for warrants: January 24, 2011
Performance since IPO: -86.75%
Nasdaq Composite: -25.15%
SEC filings: sec.gov
Highbury Financial, Inc.
Date of offering: January 25, 2006
Gross proceeds raised in offering: $47,460,000
Date of deal announcement: April 21, 2006
Number of days prior to announcement: 86
Date of deal close: November 30, 2006
Price per share (HBRF): $3.31
Price per warrant (HBRFW): $0.10
Strike price: $5.00
Price per unit (HBRFU): $2.90
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Financial services, including investment management and securities firms
Expiration date for warrants: January 25, 2010
Performance since IPO: -41.50%
Nasdaq Composite: -25.15%
SEC filings: sec.gov
Clark Holdings Corp. (formerly Global Logistics Acquisition Corporation)
Date of offering: February 16, 2006
Gross proceeds raised in offering: $88,000,000
Date of deal announcement: May 18, 2007
Number of days prior to announcement: 457
Date of deal close: February 11, 2008
Price per share (GLA): $0.56
Price per warrant (GLAW): $0.01
Strike price: $6.00
Price per unit (GLAU): $0.85
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Transportation and logistics industries
Expiration date for warrants: February 15, 2011
Performance since IPO: -92.90%
Nasdaq Composite: -26.26%
SEC filings: sec.gov
India Globalization Capital, Inc.
Date of offering: March 3, 2006
Gross proceeds raised in offering: $67,827,000
Date of deal announcement: February 12, 2007
Number of days prior to announement: 347
Date of deal close: March 6, 2008
Price per share (IGC): $1.03
Price per warrant (IGCW): $0.20
Strike price: $5.00
Price per unit (IGCU) $1.45
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: India
Expiration date for warrants: March 3, 2011
Performance since IPO: -76.17%
Nasdaq Composite: -26.52%
SEC filings: sec.gov
Pet DRx Corporation (formerly Echo Healthcare Acquisition Corp.)
Date of offering: March 17, 2006
Gross proceeds raised in offering: $57,500,000
Date of deal announcement: September 11, 2006
Number of days prior to announcement: 178
Date of deal close: January 7, 2008
Price per share (VETS): $0.73
Price per warrant (VETSW): $0.02
Strike price: $6.00
Price per unit (VETSU) $0.96
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Healthcare
Expiration date for warrants: March 17, 2010
Performance since IPO: -90.69%
Nasdaq Composite: -26.64%
SEC filings: sec.gov
General Finance Corp.
Date of offering: April 5, 2006
Gross proceeds raised in offering: $69,000,000
Date of deal announcement: September 12, 2006
Number of days prior to announcement: 184
Date of deal close: September 11, 2007
Price per share (GFN): $1.50
Price per warrant (GFNWU): $0.18
Strike price: $6.00
Price per unit (GFBCU) $1.33
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Specialty finance
Expiration date for warrants: April 5, 2010
Performance since IPO: -79.00%
Nasdaq Composite: -28.30%
SEC filings: sec.gov
China Cablecom, Ltd. (formerly Jaguar Acquisition Corporaiton)
Date of offering: April 10, 2006
Gross proceeds raised in offering: $28,300,000
Date of deal announcement: September 27, 2007
Number of days before announcement: 537
Date of deal close: June 9, 2008
Price per share (CABL): $0.36
Price per warrant (CABLW): $0.03
Strike price: $5.00
Price per unit (CABLU): $0.37
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Financial services
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: April 4, 2010
Performance since IPO: -93.00%
Nasdaq Composite: -27.48%
SEC filings: sec.gov
InfuSystem Holdings, Inc. (formerly HAPC, Inc.)
Date of offering: April 12, 2006
Gross proceeds raised in offering: $101,251,506
Date of deal announcement: October 2, 2006
Number of days prior to announcement: 173
Date of deal close: October 24, 2007
Price per share (INHI): $3.20
Price per warrant (INHIW): $0.09
Strike price: $5.00
Price per unit (INHIU): $2.10
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Healthcare
Expiration date for warrants: April 11, 2011
Performance since IPO: -43.67%
Nasdaq Composite: -26.90%
SEC filings: sec.gov
Tongxin International Ltd. (formerly Asia Automotive Acquisition Corp.)
Date of offering: April 12, 2006
Gross proceeds raised in offering: $40,250,000
Date of deal announcement: July 23, 2007
Number of days prior to announcement: 471
Date of deal close: April 17, 2008
Price per share (TXIC): $3.22
Price per warrant (TXICW): $0.40
Strike price: $5.00
Price per unit (TXICU): $3.14
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Automotive components in either India or China
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: April 10, 2011
Performance since IPO: -54.75%
Nasdaq Composite: -26.90%
SEC filings: sec.gov
Community Bankers Trust (formerly Community Bankers Acquisition Corp.)
Date of offering: June 5, 2006
Gross proceeds raised in offering: $60,000,000
Date of deal announcement: September 6, 2007
Number of days prior to announcement: 406
Date of deal close: May 30, 2008
Price per share (BTC): $3.80
Price per warrant (BTC-WT): $0.70
Strike price: $5.00
Price per unit (BTC-U): $4.36
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Banking industry
Percentage of non-insider shares that can block an acquisition:
Expiration date for warrants: June 4, 2011
Performance since IPO: -43.75%
Nasdaq Composite: -22.01%
SEC filings: sec.gov
Millennium India Acquisition Company, Inc.
Date of offering: July 21, 2006
Gross proceeds raised in offering: $58,000,000
Date of deal announcement: May 15, 2007
Number of days prior to announcement: 365
Date of deal close: January 22, 2008
Price per share (SMCG): $1.22
Price per warrant (SMCGW): $0.10
Strike price: $6.00
Price per unit (SMCGU): $1.29
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: India
Expiration date for warrants: July 19, 2010
Performance since IPO: -83.50%
Nasdaq Composite: -16.25%
SEC filings: sec.gov
Global Ship Lease, Inc. (formerly Marathon Acquisition Corp.)
Date of offering: August 25, 2006
Gross proceeds raised in offering: $320,286,200
Date of deal announcement: February 20, 2008
Number of days prior to announcement: 544
Date of deal close: August 14, 2008
Price per share (GSL): $1.92
Price per warrant (GSL-WT): $0.09
Strike price: $6.00
Price per unit (GSL-U): $2.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: No specific industry
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: August 24, 2010
Performance since IPO: -74.88%
Nasdaq Composite: -20.94%
SEC filings: sec.gov
Energy Services of American (formerly Energy Services Acquisition Corp).
Date of offering: August 30, 2006
Gross proceeds raised in offering: $51,600,000
Date of deal announcement:
Number of days prior to announcement:
Date of deal close: August 15, 2008
Price per share (ESA): $3.02
Price per warrant (ESA-W): $0.48
Strike price: $5.00
Price per unit (ESA-U): $4.43
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: Energy services industry
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: August 29, 2011
Performance since IPO: -33.67%
Nasdaq Composite: -22.59%
SEC filings: sec.gov
Primoris Services Corporation (formerly Rhapsody Acquisition Corp.)
Date of offering: October 10, 2006
Gross proceeds raised in offering: $41,400,000
Date of deal announcement: February 20, 2008
Number of days prior to announcement: 498
Date of deal close: July 31, 2008
Price per share (PRIM): $4.90
Price per warrant (PRIMW) $1.40
Strike price: $6.00
Price per unit (PRIMU): $5.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: No specific industry
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: October 2, 2010
Performance since IPO: -21.25%
Nasdaq Composite: -26.92%
SEC filings: sec.gov
GLG Partners, Inc. (formerly Freedom Acquisition Holdings)
Date of offering: December 22, 2006
Gross proceeds raised in offering: $528,000,000
Date of deal announcement: June 25, 2007
Number of days prior to announcement: 185
Date of deal close: November 2, 2007
Price per share (GLG): $3.29
Price per warrant (GLG-WT): $0.17
Strike price: $7.50
Price per unit (GLG-U): $3.45
IPO price per unit: $10.00
Original deal: One common share and one warrant
Acquisition focus: No specific industry
Expiration date for warrants: December 28, 2011
Performance since IPO: -65.40%
Nasdaq Composite: -29.53%
SEC filings: sec.gov
UIB Group Limited (formerly ChinaGrowth North Acquisition Corp.)
Date of offering: January 25, 2007
Gross proceeds raised in offering: $39,920,000
Date of deal announcement: May 27, 2008
Number of days prior to announcement: 488
Date of deal close: February 27, 2009
Price per share (CGNYF): $7.50
Price per warrant (CGNQF): $0.11
Strike price: $6.00
Price per unit (CGNUF): $4.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: China, north of the Yangtze River
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: January 23, 2011
Performance since IPO: -4.88%
Nasdaq Composite: -30.49%
SEC filings: sec.gov
ChinaGrowth South Acquisition Corp.
Date of offering: January 25, 2007
Gross proceeds raised in offering: $40,108,000
Date of deal announcement: July 22, 2008
Number of days prior to announcement: 543
Date of deal close: February 27, 2009
Price per share (CGSXF): $6.00
Price per warrant (CGSQF): $0.15
Strike price: $6.00
Price per unit (CGSUF): $3.50
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: China, south of the Yangtze River
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: January 23, 2011
Performance since IPO: -23.13%
Nasdaq Composite: -30.49%
SEC filings: sec.gov
Information Services Group
Date of offering: February 1, 2007
Gross proceeds raised in offering: $258,750,000
Date of deal announcement: April 24, 2007
Number of days prior to announcement: 82
Date of deal close: November 16, 2007
Price per share (III): $2.95
Price per warrant (IIIIW): $0.10
Strike price: $6.00
Price per unit (IIIIU): $2.81
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Information services
Expiration date for warrants: January 31, 2011
Performance since IPO: -61.88%
Nasdaq Composite: -31.45%
SEC filings: sec.gov
Barzel Industries (formerly Novamerican Steel and Symmetry Holdings, Inc.)
Date of offering: March 8, 2007
Gross proceeds raised in offering: $150,000,000
Date of deal announcement: June 21, 2007
Number of days prior to announcement: 107
Date of deal close: November 15, 2007
Price per share (TPUT): $0.19
Price per warrant (TPUT): $0.06
Strike price: $5.50
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Basic industry sectors, including energy, in North America
Expiration date for warrants: March 7, 2011
Performance since IPO: -96.86%
Nasdaq Composite: -29.14%
SEC filings: sec.gov
Essex Rental Corp. (formerly Hyde Park Acquisition Corp. and Rand Acquisition II)
Date of offering: March 8, 2007
Gross proceeds raised in offering: $103,500,000
Date of deal announcement: March 6, 2008
Number of days prior to announcement: 365
Date of deal close: October 31, 2008
Price per share (HYQR): $6.75
Price per warrant (HYQRW): $1.65
Strike price: $5.00
Price per unit (HYQRU): $6.50
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: No particular industry
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: March 4, 2011
Performance since IPO: 5.00%
Nasdaq Composite: -29.14%
SEC filings: sec.gov
Golden Green Enterprises Limited (formerly China Opportunity Acquisition Corp.)
Date of offering: March 21, 2007
Gross proceeds raised in offering: $41,400,000
Date of deal announcement: November 13, 2008
Number of days prior to announcement: 604
Price per share (GGEEF): $5.78
Price per warrant (GGENF): $0.55
Strike price: $5.00
Price per unit (GGETF): $5.95
IPO price per unit: $6.00
Original deal: One common share and two warrants
Acquisition focus: China
Percentage of non-insider shares that can block an acquisition: 40%
Expiration date for warrants: March 19, 2011
Performance since IPO: 14.67%
Nasdaq Composite: -31.10%
SEC filings: sec.gov
Cyalume Technologies Holdings (formerly Vector Intersect Security Acquisition Corp.)
Date of offering: April 26, 2007
Gross proceeds raised in offering: $58,500,000
Date of deal announcement: February 14, 2008
Number of days prior to announcement: 294
Date of deal close: December 19, 2008
Price per share (CYLU): $3.45
Price per warrant (CYLUW): $0.23
Strike price: $5.00
Price per unit (CYLUU): $3.50
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Homeland security
Percentage of non-insider shares that can block an acquisition: 20%
Expiration date for warrants: April 25, 2012
Performance since IPO: -54.00%
Nasdaq Composite: -33.76%
SEC filings: sec.gov
Vantage Drilling Company (formerly Vantage Energy Services, Inc.)
Date of offering: May 24, 2007
Gross proceeds raised in offering: $276,000,000
Date of deal announcement: 98
Number of days prior to announcement: August 30, 2007
Date of deal close: June 10, 2008
Price per share (VTG): $1.81
Price per warrant (VTG-WT): $0.12
Strike price: $6.00
Price per unit (VTG-U): $1.88
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Oilfield Services
Percentage of non-insider shares that can block an acquisition: 30%
Expiration date for warrants: May 24, 2011
Performance since IPO: -75.88%
Nasdaq Composite: -33.33%
SEC filings: sec.gov
Boise, Inc. (formerly Aldabra 2 Acquisition Corp.)
Date of offering: June 19, 2007
Gross proceeds raised in offering: $414,000,000
Date of deal announcement: September 7, 2007
Number of days prior to announcement: 80
Date of deal close: February 5, 2008
Price per share (BZ): $1.64
Price per warrant (BZ-WT): $0.08
Strike price: $7.50
IPO price per unit: $10.00
Original deal: One common share and one warrant
Acquisition focus: None specified
Expiration date for warrants: June 18, 2011
Performance since IPO: -82.80%
Nasdaq Composite: -35.59%
SEC filings: sec.gov
Seanergy Maritime Corp.
Date of offering: September 18, 2007
Gross proceeds raised in offering: $231,000,000
Date of deal announcement: May 21, 2008
Number of days prior to announcement: 246
Date of deal close: August 27, 2008
Price per share (SRG): $4.00
Price per warrant (SRG-WT): $0.18
Strike price: $6.50
IPO price per unit: $10.00
Original deal: One common share and one warrant
Acquisition focus: Shippping
Percentage of non-insider shares that can block an acquisition: 35%
Expiration date for warrants: September 24, 2011
Performance since IPO: -58.20%
Nasdaq Composite: -34.46%
SEC filings: sec.gov
United Insurance Holdings (formerly FMG Acquisition Corp.)
Date of offering: October 5, 2007
Gross proceeds raised in offering: $37,869,000
Date of deal announcement: April 2, 2008
Number of days prior to announcement: 180
Date of deal close: September 29, 2008
Price per share (UIHC): $4.75
Price per warrant (UIHCW): $0.41
Strike price: $6.00
Price per unit (UIHCU): $6.00
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Insurance industry
Percentage of non-insider shares that can block an acquisition: 30%
Expiration date for warrants: October 4, 2011
Performance since IPO: -35.50%
Nasdaq Composite: -38.10%
SEC filings: sec.gov
Stream Global Services (formerly Global BPO Services Corp.)
Date of offering: October 18, 2007
Gross proceeds raised in offering: $250,000,000
Date of deal announcement: January 28, 2008
Number of days prior to announcement: 102
Date of deal close: July 31, 2008
Price per share (OOO): $4.65
Price per warrant (OOO-WT): $0.20
Strike price: $6.00
Price per unit (OOO-U): $4.50
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: Business processing outsourcing
Percentage of non-insider shares that can block an acquisition: 30%
Expiration date for warrants: October 17, 2011
Performance since IPO: -39.38%
Nasdaq Composite: -39.41%
SEC filings: sec.gov
Heckmann Corporation
Date of offering: November 13, 2007
Gross proceeds raised in offering: $432,934,400
Date of deal announcement: May 20, 2008
Number of days prior to announcement: 190
Date of deal close: October 31, 2008
Price per share (HEK): $4.20
Price per warrant (HEK-WT): $0.55
Strike price: $6.00
Price per unit $4.80
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: None
Percentage of non-insider shares that can block an acquisition: 30%
Expiration date for warrants: November 9, 2011
Performance since IPO: -40.63%
Nasdaq Composite: -34.52%
SEC filings: sec.gov
Hughes Telematics, Inc. (formerly Polaris Acquisition Corp.)
Date of offering: January 17, 2008
Gross proceeds raised in offering: $150,000,000
Date of deal announcement: June 16, 2008
Number of days prior to announcement: 151
Date of deal close: March 31, 2009
Price per share (HTC): $4.12
Price per warrant (HTC-WT): $0.25
Strike price: $7.00
Price per unit (HTC-U): $4.56
IPO price per unit: $10.00
Original deal: One common share and one warrant
Acquisition focus: None
Percentage of non-insider shares that can block an acquisition: 30%
Expiration date of warrants: January 10, 2012
Performance since IPO: -56.30%
Nasdaq Composite: -29.34%
SEC filings: sec.gov
AutoChina International, Ltd. (formerly Spring Creek Acquisition Corp.)
Date of offering: February 28, 2008
Gross proceeds raised in offering: $41,400,000
Date of deal announcement: February 5, 2009
Number of days prior to announcement: 343
Date of deal close: April 9, 2009
Price per share (SCRQF): $7.39
Price per warrant (SCRWF): $1.10
Strike price: $5.00
Price per unit (SCRUF): $7.95
IPO price per unit: $8.00
Original deal: One common share and one warrant
Acquisition focus: China
Percentage of non-insider shares that can block an acquisition: 40%
Expiration date of warrants: February 26, 2013
Performance since IPO: 6.13%
Nasdaq Composite: -28.12%
SEC filings: sec.gov
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