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

To: Glenn Petersen who wrote (23)	1/19/2005 7:22:06 PM
From: SG	Read Replies (1) \| Respond to of 3862

Hope you were holding some warrants. Nice double. SG

To: Glenn Petersen who wrote (23)	11/12/2005 1:43:11 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

An update on Trinity Partners Acquisition Company, Inc. On July 30, 2004, Trinity Partners completed its IPO, selling 143,750 Class A units at $10.50 per unit and 747,500 Class B units at $10.10 per unit. Each Class A unit consisted of two shares of Class A common stock and warrants to buy ten additional shares of common stock at $5 per share. Each Class B unit consisted of two shares of Class B common stock and warrants to buy two additional shares of common stock at $5 per share. In the event that the company is liquidated, only the Class B shareholders would be entitled to a share of the cash distributions. The IPO raised gross proceeds of $9,059,125. This is the smallest of the current crop of blank check offerings. On January 18, 2005, Trinity Partners announced that it had reach an agreement to merge with FreeSeas, Inc. (formerly known as Adventure Holdings, S.A.), a company that owns and operates three bulk carriers. On November 10, 2005, Trinity Partners issued a press release and filed an 8-K announcing that, “the Securities and Exchange Commission has declared effective the Form F-1 registration statement concerning their proposed merger and that the Company will hold a special meeting of its Class B stockholders and Class B unit holders on December 15, 2005 to approve the proposed merger.” sec.gov Trinity Partners currently has 287,600 Class A and 1,495,000 Class B common shares outstanding. The shareholders will receive a like number of shares, 1,782,600 in total, in the newly merged entity. This assumes that none of the Trinity Partners shareholders elect to take a cash distribution rather than FreeSeas shares. The shareholders of FreeSeas will receive 4,500,000 common shares, equal to a 71.63% interest in the new company. There will be 6,282,600 shares outstanding after the merger is completed. FreeSeas does not have much of an operating history, having acquired its first two vessels in February 2004, though it has seasoned management. A few operating numbers for the six month period ending June 30, 2005: Revenues: $4,448,000 Net income: $534,000 The definitive registration statement and proxy can be found at: sec.gov