SPAC
More Developments in Proposed “Seasoning” Rules
By David Feldman at 28 August, 2011, 4:23 pm
As you know we previously reported that the Nasdaq has proposed requiring reverse merged companies to trade on the over-the-counter markets and meet other criteria for six months before being able to list on Nasdaq. The initial proposal in April said that the 6-month wait would not be required if a company was coming to [...]
Read More >>SPACs Steaming Ahead
By David Feldman at 4 July, 2011, 10:48 am
Last week a SPAC, Azteca Acquisition Corp. (AZTAU), focused on a deal in Mexico, raised $100 million in its IPO in which Deutsche Bank was the sole underwriter. Units were a share and a warrant for $10. The sponsor is Gabriel Brener, an LA-based investor who owns pieces of a major league soccer team and [...]
Read More >>SPACs Restart with Crumbs
By David Feldman at 30 May, 2011, 10:42 am
Yes the first recent SPAC deal lets us do a little play on words as Crumbs Inc. (CRMB:OB) completed its merger with SPAC 57th Street General Acquisition Corp. recently. But Crumbs is no small thing. According to the Registered Offerings Report, the stock has gone up 11% since the merger in early May. With 35 stores [...]
Read More >>New Year’s RM Wishes..
By David Feldman at 1 January, 2011, 11:24 am
My 8-year old is an avid Beatles fan so this year he decided to make New Year’s “revolutions,” but that’s for another day! Happy New Year to all my faithful blogees. Believe it or not we have been here for more than four years together watching dramatic changes in the economy, the market, the US [...]
Read More >>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 [...]
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