To: Glenn Petersen who wrote (635 ) 6/11/2007 6:00:11 PM From: Glenn Petersen Read Replies (1) | Respond to China Opportunity Acquisition Corp. completed its IPO on March 21, 2007, selling 6,900,000 units, including 900,000 units sold through the exercise of the over-allotment option, at $6.00 per unit. The gross proceeds totaled $41.4 million. Exclusive of the over-allotment option, the gross proceeds of $36 million were in line with the amount that the company was looking to raise when it filed its initial S-1 on September 29, 2006. A total of $39,717,000, equal to $5.76 per common share, has been placed into an escrow account. This balance includes $414,000 deferred by the underwriters, which will be paid when the company completes an acquisition, and $1,360,000 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
