Archive for April, 2009
March Reverse Mergers – Numbers Down but Financings Up
By David Feldman at 9 April, 2009, 3:20 pm
Only 11 companies completed reverse mergers in March according to the Reverse Merger Report. That’s down from 15 in February but up from 10 in January. In February, however, none of the transactions included a contemporaneous financing, the first time that had happened since 2005. In March, four of the deals included private placements, though [...]
Read More >>Taking a Deep Breath
By David Feldman at 8 April, 2009, 8:29 pm
I enjoyed a wonderful holiday evening with my family and am ready to enjoy a few more days with them before returning to the salt mines. Everyone needs a break. Time to gather thoughts, think big ideas, examine where you are, where you want to go, and what’s really important. In short, to take a [...]
Read More >>Tip of the Week: The Claim Left Behind
By David Feldman at 7 April, 2009, 5:43 am
There are several times where we encountered a shell company with valuable rights to sue someone for something related to the prior operating business that was in the shell. In one case, a lawsuit had been started against a former CFO of the company for matters related to alleged conversion (ie theft) of company property. [...]
Read More >>First New SPAC in Six Months
By David Feldman at 6 April, 2009, 6:34 am
Asia Select Acquisition I Corp. filed a Form F-1 with the SEC last Wednesday as the first such filing in six months, according to SPACUpdate.com. I took a look at the filing. They are hoping to raise $32 million. Michael Evans, a Canadian investment advisor, is the CEO. They are seeking to combine with a [...]
Read More >>New SPAC-meisters?
By David Feldman at 4 April, 2009, 7:21 am
I am hearing more about individual groups talking about setting up SPAC-type vehicles. So far we are hearing mostly from foreigners proposing to be sponsors. They seem more willing to consider alternative structures to the traditional one which was attractive to investors but at times challenging for companies merging in. We need to remember that [...]
Read More >>SPACs Trying Everything
By David Feldman at 2 April, 2009, 7:39 am
The 60 or so SPACs that still have money and a little time to find a deal, of course, are nervous. More and more of their shareholders are planning on voting against any deal to complete an arbitrage play based on investing at a discount to the cash value. Others were simply happy to “park” [...]
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