Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Glenn Petersen who wrote (110)	5/15/2005 12:10:06 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

Another blank check company, India Globalization Capital, Inc., has filed an S-1. The deal is being underwritten by Ferris, Baker Watts Incorporated. The company is going to focus its acquisition efforts on acquiring an operating company in India. India Globalization Capital, Inc. – STILL IN REGISTRATION Number of units being offered: 20,000,000 Proposed 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: Ferris, Baker Watts Incorporated Proposed ticker symbols Common stock: Not known Warrants: Not known Units: Not known Common shares to be outstanding subsequent to IPO: 23,500,000 Shares to be held by public shareholders: 20,000,000 Shares held by insiders: 3,500,000 Percentage held by public shareholders: 85.1% Gross proceeds being raised: $120,000,000 Net proceeds to be held in escrow: $107,498,000 Escrowed proceeds per share applicable to future public shareholders: $5.37 Date of IPO: N/A Date of original filing: May 13, 2005 Current stock price Common stock: N/A Warrants: N/A Units: N/A Description of business: India Globalization Capital, Inc. is a blank check company recently formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more operating businesses with primary operations in India. Biographical information for significant officer: Mr. Ram Mukunda, has served as our Chairman of the Board, Chief Executive Officer and President since our inception. Since September, 2004 Mr. Mukunda has served as Chief Executive Officer of Integrated Global Networks, LLC, a communications contractor in the U.S. Government space. From January, 1999 to May, 2004, Mr. Mukunda served as Founder, Chairman and Chief Executive Officer of Startec Global Communications, an international telecommunications carrier focused on providing voice over Internet protocol (VOIP) services into the emerging economies. Startec filed for protection under Chapter 11 in December 2001 and emerged from Chapter 11 in 2004. Ferris, Baker Watts, Inc., the representative of the underwriters for this offering, acted as the managing underwriter in connection with the initial public offering of Startec in 1997, and one of its executives is also a member of the board of directors of Startec. From June 1987 to January 1990, Mr. Mukunda served as Strategic Planning Advisor at INTELSAT, a provider of satellite capacity. Mr. Mukunda serves on the Board of Visitors at the University of Maryland, School of Engineering. Mr. Mukunda is the recipient of several awards, including the University of Maryland’s 2001 Distinguished Engineering Alumnus Award and the 1998 Ernst & Young, LLP’s Entrepreneur of the Year Award. He holds a masters degree in Engineering from the University of Maryland. SEC filings: sec.gov