SPAC
Good Second Quarter for Reverse Mergers
By David Feldman at 30 July, 2010, 9:35 am
Now that we have completed the Dodd-Frank Show here at the RM blog, it’s time to return to our title topic (though not much to report on SPACs, in fact there’s been no new SPAC Report from DealFlow since late May)! The good news is, according to The Reverse Merger Report, that reverse merger deal volume [...]
Read More >>First New SPAC of 2010: Changes Good?
By David Feldman at 11 June, 2010, 12:36 pm
DealFlow Media’s The SPAC Report reported the completion of the first and only SPAC that made it all the way to pricing during 2010. 57th Street General Acquisition Corp.’s filing took six months to make its way through the SEC, no doubt in small part because the sponsors have changed some of the customary SPAC terms. [...]
Read More >>Intro to CPC’s - Part II: Definitely Not SPACs
By David Feldman at 9 March, 2010, 7:04 am
As mentioned in the first installment of this series on CPCs, or capital pool companies, in Canada, there are some differences between these smaller shell companies that go public on the TSX Venture Exchange seeking combinations with development stage companies and SPAC’s, or special purpose acquisition companies in the US, which raise large amounts of money hoping [...]
Read More >>Intro to CPC’s - Part I: Basics
By David Feldman at 7 March, 2010, 9:17 am
We’ve all been hearing a lot about “CPCs,” emanating out of Canada. CPC stands for capital pool company. Essentially the program permits shell companies to go public through an IPO, raise money and then hope to conclude an acquisition through reverse merger. The TSX Venture Exchange established the program, which is not available in all Canadian [...]
Read More >>PIPE Conference Take-Aways Part II
By David Feldman at 4 December, 2009, 12:15 pm
Following the panel on OTCBB PIPEs, I moderated a panel on cutting edge trends in APOs. We continued the discussion on Form 10s much as on the prior panel. One panelist felt it was just simpler not to have to educate an investor about the benefits of the Form 10, even though those benefits may [...]
Read More >>First SPAC to Close Since 2008
By David Feldman at 29 November, 2009, 11:38 am
GSME Acquisition Partners I raised $36 million as the first SPAC to raise money and go public since August 2008. The SPAC Wire reports that GSME has only 12-18 months to close a deal. It is looking for a deal in China. Cohen & Company was lead underwriter along with Rodman & Renshaw and I-Bankers [...]
Read More >>Second SPAC of 2009 Filed
By David Feldman at 27 October, 2009, 2:05 pm
In a hopeful sign, the SPAC Report confirmed that an off-shore SPAC formed by GSME Partners in China is in registration with the hope of raising about $41 million. The underwriter is Cohen & Company. The SPAC will operate as a foreign private issuer. The only other SPAC filed this year is called Asia Select Acquisition I Corp., [...]
Read More >>WSJ: SPACs are Back
By David Feldman at 29 September, 2009, 8:56 am
An article in today’s Wall Street Journal (page C1) actually uses the headline “risk is back now,” showing that there remains a particular point of view about SPACs in the media, but such is the lot of the RM world at times. The good news: several SPACs actually completed mergers where none had been able [...]
Read More >>As We Start a New School Year…RM Wish List
By David Feldman at 3 September, 2009, 5:55 am
My children are ready. My big one already back in college. My little one getting ready for the big jump to second grade. There is a chill in the air here in NY in the evenings. Yep, it’s a new school year. So I thought I’d use this occasion to provide for my hopes for [...]
Read More >>Tip of the Week: What of the Remaining SPACs?
By David Feldman at 27 August, 2009, 5:59 am
Unfortunately, it is difficult to complete a reverse merger transaction with those SPACs (special purpose acquisition companies) that have gone public, have money and are running out of time to complete a transaction under their rules. Why? Well I got the answer recently from a contact who owns several SPACs. I had a client determined to [...]
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