PROFILES OF OPEN DEALS – MAY 22, 2009
Middle Kingdom Alliance Corp. (stock symbols: MKGD and MKGB), which raised $29.164,040 when it went public on December 14, 2006, announced on September 5, 2008 that it had signed an agreement to acquire Pyop Digital Company, described as “a leading distributor in China of Samsung mobile phones and other related products.” The company’s original liquidation deadline was December 13, 2008. The shareholders have approved an extension to August 31, 2009. The Class A common shares and Class D warrants last traded at $1.01 and $.51, respectively, giving the Class A units (consisting of one Class A common share and five Class W warrants), which last traded at $8.00, a value of $3.56. The Class B common shares and Class B warrants last traded at $7.60 and $.23, respectively giving the Class B units (consisting of one Class B common share and one Class B warrant), which last traded at $7.50, a value of $7.83.
The warrants have a strike price of $5.00 and an expiration date of December 13, 2013. Both the Class A and Class B units were originally priced at $8.00.
Pantheon China Acquisition Corp. (stock symbol: PCQC), which raised $34.5 million when it went public in December 2006, announced on November 11, 2008 that it signed an agreement to acquire China Cord Blood Services, a blood bank operator in China. On December 14, 2008, the shareholders of Pantheon agreed to extend the deadline by which a business combination must be approved by the shareholders from December 14, 2008 to September 30, 2009. The holders of 929,613 shares voted against the extension and elected to redeem their shares at $5.9826 per share. The total dollar amount of the shares that were redeemed was $5,561,686. The common stock and warrants last traded at $5.85 and $.60, respectively, giving the units, which last traded at $6.50, a value of $7.05. The warrants have a strike price of $5.00 and an expiration date of December 13, 2010. The units were originally priced at $6.00.
Shermen WSC Acquisition Corp. (stock symbol: SACQ), which raised $138 million when it completed its IPO on May 24, 2007, announced on November 26, 2008 that it had agreed to acquire the Westway Group, a "bulk liquid storage and liquid animal feed supplement businesses." The common stock and warrants last traded at $5.98 and $.20, respectively, giving the units, which last traded at $6.01, a value of $6.18. The warrants have a strike price of $5.00 and an expiration date of May 24, 2011. The units were originally priced at $6.00.
Stoneleigh Partners Acquisition (stock symbol: SOC), which raised $222.8 million when it went public on June 1, 2007, announced on April 8, 2009 that it had signed an agreement to acquire Realty Finance Corporation, "a commercial real estate specialty finance company primarily focused on managing a diversified portfolio of commercial real estate-related loans and securities." A shareholder meeting has been scheduled for May 29, 2009 to allow the shareholder to vote on management’s request to extend the life of the company from May 31, 2009 to December 31, 2009 so that it can complete its proposed transaction. If the shareholders do not approve the request, the company will be liquidated. The common stock and warrants last traded at $7.90 and $.0002, respectively, giving the units, which last traded at $7.70, a value of $7.90. The warrants have a strike price of $5.50 and an expiration date of May 31,, 2011. The units were originally priced at $8.00.
Advanced Technology Acquisition Corp. (stock symbol: AXC), which raised $150 million when it went public on June 18 2007, announced on December 22, 2008 that it has signed a letter of intent to acquire Bioness, described as "a neuromodulation company marketing non-invasive medical devices and developing minimally-invasive implantable products intended to treat the tens of millions of individuals suffering from disabling conditions caused by various neurological events and conditions (such as stroke and multiple sclerosis), chronic pain and urological syndromes." The common stock and warrants last traded at $7.90 and $.01, respectively, giving the units, which last traded at $7.81, a value of $7.91. The warrants have a strike price of $6.00 and an expiration date of June 18, 2011. The units were originally priced at $8.00.
China Discovery Acquisition Corporation (stock symbol: CADQ), which raised $34.5 million when it went public in June 2007, announced on April 14, 2009 that it has reached an agreement to acquire HeNan Smart Food Company, "a leading instant noodle producer in China, the largest instant noodle market in the world.” The common stock and warrants last traded at $5.82 and $.15, respectively, giving the units, which last traded at $6.00, a value of $6.03. The warrants have a strike price of $5.00 and an expiration date of June 17, 2011. The units were originally priced at $6.00.
GSC Acquisition Company (stock symbol: GGA), which raised $207 million when it went public on June 27, 2007, announced on May 9, 2008 that it had reached an agreement to acquire Complete Energy, the owner and operator of two natural gas-fired combined cycle power generation facilities. The common stock and warrants last traded at $9.78 and $.0011, respectively, giving the units, which last traded at $9.70, a value of $9.78. The warrants have a strike price of $6.00 and an expiration date of June 25, 2011. The units were originally priced at $10.00.
Alyst Acquisition Corp. (stock symbol: AYA), which raised $64.4 million when it went public on June 29, 2007, announced on August 18, 2008 that it has signed an agreement to merger with China Networks Media, "which owns and is in the process of acquiring television station operating assets in the People's Republic of China." The common stock and warrants last traded at $7.80 and $.03, respectively, giving the units, which last traded at $7.70, a value of $7.83. The warrants have a strike price of $5.00 and an expiration date of June 28, 2011. The units were originally priced at $8.00.
KBL Healthcare Acquisition Corp. III (stock symbol: KHA), which raised $133.9 million when it went public in July 2007, announced on March 16, 2009 that it is going to acquire PRWT Services, "a national, diversified enterprise operating in pharmaceutical manufacturing and distribution, facilities management and maintenance services, and business processing services." The common stock and warrants last traded at $7.75 and $.30, respectively, giving the units, which last traded at $7.75, a value of $8.05. The warrants have a strike price of $6.00 and an expiration date of July 18, 2011. The units were originally priced at $8.00.
Alternative Asset Management Acquisition (stock symbol: AMV), which raised $414 million when it went public on August 3, 2007, announced on March 13, 2008 that it had signed an agreement to acquire Halcyon Asset Management, self-described as "a leading global alternative asset management firm with approximately $11.5 billion in assets under management." The transaction was terminated on June 23, 2008. On May 14, 2009, the company announced that it had entered into an agreement to acquire Great American Group, LLC, "a leading provider of asset disposition and valuation and advisory services to a wide range of retail, wholesale and industrial clients, as well as lenders, capital providers and professional service firms." The common stock and warrants last traded at $9.71 and $.09, respectively, giving the units, which last traded at $9.75, a value of $9.80. The warrants have a strike price of $7.50 and an expiration date of August 1, 2012. The units were originally priced at $10.00.
InterAmerican Acquisition Group (stock symbol: IAQG), which raised $45.2 million when it went public on September 10, 2007, over two years after it filed its initial S-1, announced on May 18, 2008 that it has reached a definitive agreement to acquire China City Planning & Infrastructure, a Chinese company that provides "economic strategy guidance and detailed urban planning services to municipalities struggling to deal with growth and demands on city infrastructures.". The common stock and warrants last traded at $7.55 and $.15, respectively, giving the units, which last traded at $7.50, a value of $7.70. The warrants have a strike price of $5.00 and an expiration date of September 4, 2011. The units were originally priced at $8.00.
Hicks Acquisition Company I, Inc. (stock symbol: TOH), which raised $552 million when it went public on October 3, 2007, announced on June 30, 2008 that it is partnering with The Blackstone Group to merge with Graham Packaging, "a global technology and innovation leader in value-added blow-molded rigid plastic containers for the branded food and beverage, household, personal care/specialty and automotive lubricant industries." The common stock and warrants last traded at $9.54 and $.04, respectively, giving the units, which last traded at $9.50, a value of $9.54. The warrants have a strike price of $7.50 and an expiration date of September 28, 2011. The units were originally priced at $10.00.
Inter-Atlantic Financial, Inc. (stock symbol: IAN), which raised $68.9 million when it completed its IPO in October 2007, announced on April 24, 2009 that it has signed a definitive agreement to acquire Patriot Risk Management, a specialty workers’ compensation risk management firm. The common stock and warrants last traded at $7.74 and $.08, respectively, giving the units, which last traded at $7.71, a value of $7.82. The warrants have a strike price of $4.50 and an expiration date of October 2, 2011. The units were originally priced at $8.00.
TM Entertainment & Media, Inc. (stock symbol: TMI), which raised $82,040,000 when it went public on October 18, 2007, announced on May 4, 2009 that it has reached an agreement to acquire Mandefu Holdings Limited (d/b/a China MediaExpress, "China’s largest television advertising operator on inter-city express buses." The common stock and warrants last traded at $7.72 and $.10, respectively, giving the units, which last traded at $7.61, a value of $7.82. The warrants have a strike price of $5.50 and an expiration date of October 17, 2011. The units were originally priced at $8.00.
2020 ChinaCap Acquirco (stock symbol: TTY ), which raised $60 million when ir completed its IPO on November 9, 2007, announced on May 11, 2009 that it has signed a definitive agreement to acquire Windrace International, "one of the largest branded sportswear companies in China that is engaged in the design, manufacturing, trading and distribution of sporting goods, including footwear, apparel and accessories, in the People's Republic of China." The common stock and warrants last traded at $7.74 and $.16, respectively, giving the units, which last traded at $7.99, a value of $8.00. The warrants have a strike price of $5.25 and an expiration date of November 8, 2011. The units were originally priced at $8.00.
China Holdings Acquisition Corp. (stock symbol: HOL), which raised $128 million when it went public on November 16, 2007, announced on July 21, 2008 that it intended to acquire Bright World Precision Machinery Ltd., "a leading Chinese manufacturer of high performance metal stamping machines." The common stock and warrants last traded at $9.50 and $.04, respectively, giving the units, which last traded at $9.35, a value of $9.54. The warrants have a strike price of $7.50 and an expiration date of November 16, 2012. The units were originally priced at $10.00.
Ideation Acquisition Corp. (stock symbol: IDI), which raised $80 million when it completed its IPO on November 21, 2007, announced on April 1, 2009 that it had signed a definitive agreement to acquire SearchMedia International Limited, "a leading nationwide multi-platform media company in China. It is one of the largest integrated operators of outdoor billboard and in-elevator advertising networks in China." The common stock and warrants last traded at $7.70 and $.40, respectively, giving the units, which last traded at $8.01, a value of $8.10. The warrants have a strike price of $6.00 and an expiration date of November 19, 2011. The units were originally priced at $8.00.
Asia Special Situation Acquisition Corp. (stock symbol: CIO), which raised $115 million when it went public on January 17, 2008, announced on December 17, 2008 that it has reached an agreement to acquire the southeast Asian business of White Energy, which owns a “unique patent-protected coal upgrading technology, which generates a more energy efficient, cleaner burning coal, in the key Asian markets of Indonesia (where it already has operations through its wholly owned subsidiary, BCBC Singapore Pte Ltd), Singapore, Malaysia, Vietnam and the Philippines.” The common stock and warrants last traded at $9.54 and $.30, respectively, giving the units, which last traded at $9.70, a value of $9.84. The warrants have a strike price of $7.50 and an expiration date of January 16, 2012. The units were originally priced at $10.00.
GHL Acquisition Corp. (stock symbol: GHQ), which raised $400 million when it went public on February 18, 2008, announced on September 23,, 2008 that it had reached an agreement to acquire to acquire Iridium, described as "a leading provider of voice and data mobile satellite services." The common stock and warrants last traded at $9.69 and $.52, respectively, giving the units, which last traded at $10.05, a value of $10.22. The warrants have a strike price of $7.00 and an expiration date of February 14, 2013. The units were originally priced at $10.00. |
