To: Glenn Petersen who wrote (551 ) 6/11/2007 8:20:38 PM From: Glenn Petersen Read Replies (1) | Respond to China Healthcare Acquisition Corp. completed its IPO on April 23 2007, selling 9,751,555 units, including 1,251,555 units that were sold through the exercise of the over-allotment option, at $6.00 per unit. The gross proceeds totaled $58,509,330. Exclusive of the units sold through the exercise of the over-allotment option, the gross proceeds of $51 million was down from the $60 million that the company was looking to raise when it filed its initial S-1 on July 11, 2006. A total of $57,307,802, equal to $5.88 per common share, has been placed into an escrow account. This balance includes $2,133,867 deferred by the underwriters, which will be paid when the company completes an acquisition, and $1.5 million from the sale of warrants to certain of the insiders. In the event that the company is liquidated, neither the underwriter nor the insiders will receive any of the funds placed into the escrow account. sec.gov
