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

To: Glenn Petersen who wrote (2136)	9/10/2009 3:26:16 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

The management of [t]GHQ[/t] has tied up more shares: GHL Acquisition Corp. Announces Additional Share Repurchase Agreements - 1,941,100 additional common shares to be repurchased at closing - Total of 14,750,691 common shares now subject to repurchase agreements - Repurchased shares to be voted in favor of Iridium acquisition Press Release Source: GHL Acquisition Corp. On Wednesday September 9, 2009, 4:01 pm EDT NEW YORK, Sept. 9 /PRNewswire-FirstCall/ -- GHL Acquisition Corp. ("GHL Acquisition") (NYX: GHQ, GHQ.U and GHQ.WS) announced today that it has entered into additional agreements with certain holders of its common stock as a result of which an additional 1,941,100 million shares of GHL Acquisition common stock will be repurchased upon closing of its acquisition of Iridium Holdings LLC ("Iridium"). The aggregate number of GHL Acquisition common shares subject to repurchase agreements now totals 14,750,691. The agreements provide that the shares will be repurchased for a price per share equal to the greater of $10.10 per share and the price per share at which GHL Acquisition common stock are sold in a future public offering. The sellers of the shares have also granted GHL Acquisition a proxy over the shares to be repurchased, and GHL Acquisition intends to vote the repurchased shares in favor of the acquisition of Iridium at the special meeting of shareholders scheduled for September 23, 2009. The aggregate number of shares now subject to these agreements represents approximately 36.9% of the 40 million shares of common stock eligible to vote on the acquisition proposal at the special meeting. The repurchases of the shares are subject to the closing of the Iridium acquisition and GHL Acquisition intends to use the proceeds of a future offering of common stock to finance these repurchases. GHL Acquisition will continue its on-going discussions with certain other holders of its common stock regarding potential acquisitions of the shares held by such holders on similar terms. There can be no assurance that GHL Acquisition will acquire any additional shares of its common stock. The special meeting of shareholders of GHL Acquisition to vote on the Iridium acquisition is scheduled for September 23, 2009, and the proxy statement describing the meeting has been mailed to holders of record of GHL Acquisition common stock as of August 27, 2009. Copies of the proxy statement can be obtained from MacKenzie Partners, Inc., by calling 800-322-2885, or from the SEC's website at www.sec.gov. <snip> finance.yahoo.com