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

To: Elroy who wrote (52)	2/22/2005 6:28:27 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

Services Acquisition Corp. does look good. Its CEO, Steven Berrard, has quite an impressive background. I have a good friend who probably knows him. I'll have to give him a call. It is unlikely that you will be able to participate in the offering without being a client of one of the syndicate members. The syndicates do not appear to be retail oriented. Coastal Bancshares Acquisition Corp. sec.gov Underwriters/Number of Units I-Bankers Securities Incorporated: 1,250,000 Newbridge Securities Corporation: 1,250,000 Maxim Group, LLC: 1,250,000 Broadband Capital Management LLC: 550,000 Legend Merchant Group Inc.: 250,000 Westminster Securities Corp.: 100,000 Capital Growth Financial, LLC: 75,000 Bathgate Capital Partners LLC: 75,000 Total: 4,800,000 Millstream II Acquisition Corporation sec.gov Underwriters/Number of Units EarlyBirdCapital, Inc.: 3,500,000 GunnAllen Financial, Inc.: 250,000 Maxim Group, LLC: 250,000 Total: 4,000,000

To: Elroy who wrote (52)	2/25/2005 8:38:40 AM
From: Glenn Petersen	Respond to of 3862

Firm going public, to raise $46M A new company headed by Steven Berrard, Services Acquisition Corp. International, plans to raise money from investors so it can make acquisitions, possibly in the consumer services or healthcare fields. BY PATRICK DANNER pdanner@herald.com A new Fort Lauderdale company headed by Steven Berrard, H. Wayne Huizenga's former right-hand man, is looking to raise as much as $46 million from investors in an initial public offering. Services Acquisition Corp. International will use the money to acquire an as-yet identified company, possibly in the consumer services or healthcare field. 'We're looking for growth companies than can grow organically or via acquisition, that have good fundamental economics,' said Thomas Aucamp, a director and vice president for Services Acquisition. Services Acquisition anticipates a transaction in the $100 million range, Aucamp said. Berrard, the company's chairman and chief executive, referred questions to Aucamp when reached in North Carolina Tuesday. Berrard worked alongside Huizenga to build such companies as Blockbuster Entertainment and AutoNation into industry behemoths. The two recently bought a controlling interest in Swisher International, a Charlotte-based restroom hygiene services company. Berrard also has headed up New River Capital Partners, a private investment firm that has had hits and misses. Aucamp and Thomas Byrne, also partners at New River Capital, are part of Services Acquisition's executive team. OTHER INVESTORS They are joined by I. Steven Edelson and Nathaniel Kramer of Mercantile Capital Markets in Chicago. New River Capital and Mercantile have invested together in private deals, Aucamp said. The five men are putting more than $1 million into Services Acquisition, Aucamp said. Services Acquisition aims to sell 5 million shares at $8 each, according to a document filed with the Securities and Exchange Commission Monday. The offering could reach $46 million if its sells an over-allotment of 750,000 shares. Broadband Capital Management LLC is identified in the SEC filing as the underwriter's representative. Services Acquisition plans to go public in the spring. If Services Acquisition fails to find a company to acquire within 18 months of the offering, shareholders get back 91 percent of their investment, Aucamp said. A BLANK CHECK An IPO such as Services Acquisition's is often referred to as a 'blank check offering' because the company's business activities haven't been determined. 'It lets retail investors invest with good management on the same terms that institutional investors can invest with private equity firms,' said Stephen Roddenberry, a corporate lawyer with Akerman Senterfitt in Miami. He served as a lead lawyer on many of Huizenga's deals dating back to 1985. Roddenberry is not involved offering. miami.com