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

To: SPACPLAYER who wrote (218)	7/18/2005 1:23:04 PM
From: Glenn Petersen	Respond to of 3862

Juniper Partners raised $15,250,000 in its IPO. The company sold 250,000 Series A units at $10.50 per unit and 1,250,000 Series B units at $10.10 per unit. Each Class A unit consists of two common shares and warrants to purchase ten additional common shares at $5.00 per share. Each Class B unit consists of two Class B common shares and warrants to purchase two additional common shares shares at $5.00 per share. Only holders of the Class B shares are entitled to vote on any proposed business combination. After the IPO, the company put $12,625,000 into an escrow account. In the event of a liquidation, only the holders of the Class B shares will be entitled to share in the proceeds from the liquidation. There are 2,500,000 Class B shares. Divide the escrowed funds ($12,625,000) by the number of Class B shares (2,500,000), and the escrowed cash works out to $5.05 per Class B share.