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

To: jrhana who wrote (1400)	12/1/2007 3:06:47 PM
From: Glenn Petersen	Respond to of 3862

It seems to me that the increase from 18 to 24 months probably comes from SEC complications. I don't think that the SEC is the issue. Most of the transactions that unraveled involved companies that signed deals close to their deadlines. My guess is that many of the companies going public by merging with or being acquired by a blank check company probably do not have systems in place that are SEC reporting ready. This would complicate the due diligence process and make it more difficult to complete audits and prepare the proxy materials. Remember that a lot of these companies were not on a path for a traditional IPO. The extra six months should reduce the number of liquidations. Also, the fact that the blank check companies are raising larger sums of money means that they will be targeting entities that have sophisticated systems in place.