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Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (6)	1/7/2005 11:47:03 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

Great Wall Acquisition Corporation Number of units sold: 4,515,975 Price per unit: $6.00 Terms of deal: One share of common stock and warrants to purchase two shares of common stock at $5.00 per share. Underwriters: Broadband Capital Management Ticker symbols Common stock: GWAQ Warrants: GWAQW Units: GWAQU Common shares outstanding subsequent to IPO: 5,515,975 Shares held by public shareholders: 4,515,975 Shares held by insiders: 1,000,000 Percentage held by public shareholders: 81.9% Gross proceeds raised: $27,095,850 Net proceeds held in escrow: $23,166,951 Escrowed proceeds per share held by public shareholders: $5.13 Date of IPO: March 19, 2004 Date of original filing: December 4, 2003 Current stock price (as of January 7, 2005) Common stock: $5.15 Warrants: $.96 Units: $7.35 Description of business: Great Wall Acquisition Corporation is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with a company having its primary operations in the People's Republic of China. Biographical information for significant officer: Kin Shing Li has been our chairman of the board and chief executive officer since September 2003 and our secretary since January 2004. Mr. Li has been the chairman of International Elite Limited, one of the largest centralized single-location outsourcing customer service call centers in the PRC, since he founded the business in 1999. Since March 2003, he has been a director and shareholder of PacificNet Communications Limited – Macao Commercial Offshore, a joint venture between International Elite and PacificNet Management Limited, a wholly-owned subsidiary of PacificNet Inc., a public Nasdaq listed provider of information technology consulting, system integration and information technology solutions in Asia. From October 1997 to September 1999, Mr. Li was a member of the board of directors of UTStarcom, Inc., a public Nasdaq-listed company that designs, manufactures, and markets broadband, narrowband, wireless access technology, and was the chief executive officer of one of its subsidiraires, UTStarcom Hong Kong Limited. In January 1997, Mr. Li founded Directel Communications Limited, a GSM sales and service company and has acted as its chairman since that date. In 1994, he founded China-HongKong Telelink Company Limited, the first roaming paging service provider between Hong Kong and the PRC and acted as its chairman until he sold it to UTStarcom Inc. in 1997 Mr. Li founded his first call center in China in 1988 as the founder and general manager of the 81st Army Paging Company in Guangzhou, China. SEC filings: sec.gov