Upbeat Mood in Shanghai II
By David Feldman at 25 March, 2009, 5:48 am
More from the just finished International PIPE Conference in Shanghai. I am very pleased to report that this was the first conference in our space that I have attended where nothing but positive things were said about the value of using Form 10 shells to complete reverse mergers, especially with Chinese companies.
One speaker noted that several years ago there were bigger differences between trading and non-trading shells, but that these days there is effectively no trading even in trading shells. Given that Form 10s are clean and much cheaper to set up and acquire, it is becoming more and more popular. And with WestPark Capital’s WRASP structure showing real success in using a Form 10 shell to merge, complete a PIPE then move directly to the NYSE Afternext (formerly American Stock Exchange), it seems that this vehicle is here to stay for at least the foreseeable future.
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