First SPAC to Close Since 2008

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 ...

See You in Vegas!

I will be moderating a panel on reverse mergers at this week’s PIPE Conference at the fabulous Venetian Hotel in Las Vegas (I always remember my kids watching “Rugrats” when they went on a trip to “Slots Vegas,” or an LA-based client who prefers “Lost Wages”). As always, DealFlow Media and its conference coordinator Eric Salvarezza ...

ChiNext is Launched

Just before my last trip to China earlier this month, China launched its long-awaited smallcap stock exchange, dubbed ChiNext, on October 30. The market is also known as the Growth Enterprise Market, or GEM. It is part of the Shenzhen stock exchange in Guangdong province. Containing more entrepreneurial enterprises than you see on the larger ...

Notes from SEC Small Business Conference 2

Yesterday I went to Washington to attend the SEC’s annual small business conference, which they are mandated to hold by statute. SEC Chair Mary Schapiro opened it up recognizing the importance of smaller companies to help take the company out of recession and reminding us of the three key goals of the SEC: protecting investors, ...

Tip of the Week: Do an IPO if You Can?

The IPO market is beginning to wake up. Several smaller underwriters are beginning to work on new issues for companies in the size range of some reverse mergers and self-filings. Is an IPO preferable to alternatives if available? I am asked this all the time. The answer: typical lawyer am I – it depends. The ...

Thanks for Supporting the Book!

I just thought I would let you know that a full three weeks before the second edition of my book, Reverse Mergers and other Alternatives to a Traditional IPO, is officially released it is already in the top 10 of all M&A books on Amazon! Thanks so much for your support. I am glad that ...

Permanent 404(b) Exemption for Non-Accelerated Filers Passes Major Hurdle 4

Yesterday, the House Financial Services Committee, led by Massachusetts Rep. Barney Frank, approved the Investor Protection Act. An amendment proposed by New Jersey Reps. John Adler and Scott Garrett would create a permanent exemption from Sarbanes-Oxley Act Section 404(b) for so-called non-accelerated filers below $75 million in market capitalization. The amendment was approved 37-32, above ...

Off to China…Again!

I’m headed to China today for my third visit this year. I remain a strong believer in the enormous opportunity for successful, growing Chinese companies to access capital and seek a path to liquidity with a trading stock in the US. Obviously I’m not the only one. Most reverse merger players have either been to ...