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 (2196)	11/20/2009 8:14:12 PM
From: Glenn Petersen	Read Replies (1) of 3862

The GSME IPO is the first public offering of a SPAC this year, and the first since August 2008. There are a number of unique characteristics about GSME that may serve as the template for future offerings, some of which are: -- It will take NO votes from 81% of the non-insider shares to kill a proposed transaction. -- The insiders will only own 10% of the post-IPO shares. -- GSME must complete a transaction within one year or liquidate. It can get a 6 month extension if it has signed a letter of intent. -- The strike price of the warrants has been set ay $11.50. -- GSME is the only SPAC to start its life trading on the Pink Sheets.

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