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


To: Glenn Petersen who wrote (9)1/7/2005 11:54:12 PM
From: Glenn Petersen  Read Replies (1) | Respond to of 3862
 
Arpeggio Acquisition Corporation

Number of units sold: 6,800,000

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: EarlyBird Capital

Ticker symbols
Common stock: APGO
Warrants: APGOW
Units: APGOU

Common shares outstanding subsequent to IPO: 8,300,000
Shares held by public shareholders: 6,800,000
Shares held by insiders: 1,500,000
Percentage held by public shareholders: 81.9%

Gross proceeds raised: $40,800,000
Net proceeds held in escrow: $34,952,000
Escrowed proceeds per share held by public shareholders: $5.14

Date of IPO: June 24, 2004
Date of original filing: April 23, 2004

Current stock price (as of January 7, 2005)
Common stock: $5.09
Warrants: $.80
Units: $6.75

Description of business: Arpeggio Acquisition Corporation is a blank check company recently formed for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Our efforts in identifying a prospective target business will not be limited to a particular industry although we intend to focus on target businesses in both the United States and Canada that may provide significant opportunities for growth.

Biographical information for significant officer: Eric S. Rosenfeld has been our chairman of the board, chief executive officer and president since our inception. Mr. Rosenfeld has been the president and chief executive officer of Crescendo Partners, L.P., a New York-based investment firm, since its formation in November 1998. He has also been the senior managing member of Crescendo Advisors II LLC, the entity providing us with general and administrative services, since its formation in August 2000. Prior to forming Crescendo Partners, Mr. Rosenfeld had been managing director at CIBC Oppenheimer and its predecessor company Oppenheimer & Co., Inc. since 1985. He was also chairman of the board of Spar Aerospace Limited, a company that provides repair and overhaul services for aircraft and helicopters used by governments and commercial airlines, from May 1999 through November 2001, until its sale to L-3 Communications. Mr. Rosenfeld is a director and chairman of the strategic planning committee of CPI Aerostructures, Inc., an American Stock Exchange-listed company engaged in the contract production of structural aircraft parts principally for the United States Air Force and other branches of the U.S. armed forces. He is also a director of Sierra Systems Group, Inc., a Toronto Stock Exchange-listed information technology, management consulting and systems integration firm based in Canada, and a director of AD OPT Technologies, Inc., a Toronto Stock Exchange-listed company that provides advanced workforce planning, scheduling and management solutions. Mr. Rosenfeld recently served as a director and head of the special committee of Pivotal Corporation, a Canadian based customer relations management software company that was sold to chinadotcom in February 2004. Mr. Rosenfeld is a regular guest lecturer at Columbia Business School and has served on numerous panels at Queen's University Business Law School Symposia, McGill Law School and the World Presidents' Organization. He has also been a regular guest host on CNBC. Mr. Rosenfeld received an M.B.A. from Harvard University and an A.B. degree in economics from Brown University.

SEC filings: sec.gov