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

To: Glenn Petersen who wrote (1011)	7/19/2007 12:32:38 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

China Fortune Acquisition Corp. completed its IPO on July 17, 2007, selling 9,375,000 units at $8.00 per unit. The gross proceeds totaled $75 million, up from the $64 million that the company was looking to raise when it filed its initial S-1 on October 4, 2006. A total of $72,375,000, equal to $7.72 per common share, has been placed into an escrow account. This balance includes $1.875 million deferred by the underwriters, which will be paid when the company completes an acquisition, and $2 million from the sale of units 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. Up to $1,465,000 of interest earned on the trust fund balance can be used to fund expenses related to investigating and selecting a target business and other working capital requirements. Each unit consists of one share of common stock and a warrant to purchase one additional share at $6.00 per share. Warrant terms: Each warrant will become exercisable on the later of the completion of a business combination with a target business and July 17, 2008. The warrants will expire at 5:00 p.m., New York City time, on July 16, 2011, or earlier upon redemption. China Fortune Acquisition Corp. will be focusing its acquisition efforts in China. The securities are listed on the OTC Bulletin Board. The units (CFAUF.OB) closed at $8.50 yesterday. The common shares (CFAQF.OB) and warrants (CFAWF.OB) are not yet trading. The final prospectus: sec.gov