Entries tagged "blank check"
Are special purpose acquisition companies back, as The Wall Street Journal suggests, or have they never left the scene?
As reported earlier in the week, a glimmer of hope emerged for investors anticipating a revival of special purpose acquisition company offerings as three new SPACs registered for offerings over the past two weeks, marking the first new activity since April, according to Dealflow Media's SPAC report. Now, one of those SPACs, Navios Maritime Acquisition Corp. successfully floated on the New York Stock Exchange. ...
SPAC IPOs have flourished, but recently, liquidations have mounted and a logjam of SPACs has piled up, giving pro and con players reason to wonder whether these are growing pains or something worse.
Once a niche product, special purpose acquisition companies or blank checks have become all the rage in an environment of tight credit and a frozen initial public offering market. Last year, Spacs accounted for almost 25% of all U.S.-based IPOs, but the economic downturn has some Spacs hitting road bumps....
How do you know when a trend such as the growth of special purpose acquisition companies has hit critical mass? When everyone and their grandmother is in on the action. Well, it seems the SPAC trend is near that point as actor and producer Ashton Kutcher is joining the William Morris Agency Inc.'s blank-check firm Performance Acquisition Co., a SPAC seeking $500 million through an IPO on the American Stock Exchange....
Discovery Communications Inc., which is amidst a reorganization, acquired green news Web site Treehugger.com reportedly for $10 million, according to the New York Post. The cable network recently closed its 103 retail stores, which sold educational toys. When it announced the planned closure in May, The Washington Post suggested the pruning of underperforming assets was part of a plan to take the media company public. The Post also reported later in May that Discovery was in talks to sell part of its Discovery Times network to CBS Corp., leading Dealscape to speculate that a CBS purchase of Discovery could...
