Posts for Ticker ‘BPW’

SPAC Stock/Warrant Separation: BPW Acquisition Corp. (BPW.U, BPW.WS, BPW)

BPW Acquisition Corp. (AMEX: BPW.U) is another one of these special purpose acquisition companies ("SPAC") that came public in recent weeks.  The SPAC has announced that, starting today, April 1, 2008, its unit-holders from its initial public offering completed on March 3, 2008, may now elect to separately trade the common stock and warrants included in the units.  Those units not separated will continue to trade on the AMEX under the symbol "BPW.U", and each of the common stock and warrants will trade on the American Stock Exchange under the symbol "BPW" and "BPW.WS", respectively.

We frequently discuss IPO’s, back door plays into IPO’s, SPAC’s, spin-offs, and more on our open email distribution list.

Jon C. Ogg
April 1, 2008

Jon Ogg produces the Special Situation Investing Newsletter and he can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

Posted on: April 1, 2008 – 8:11 am in IPOs, , ,

SPAC Alert: BPW Acquisition Corp. Begins Trading (BPW, BPW.U)

BPW Acquisition Corp., a SPAC or special purpose acquisition corporation, was listed by the American Stock Exchange this morning under the symbol “BPW.u”.  The gross proceeds for the offering are $350 million off of 35 million shares at $10 per unit. Based on the IPO filing, one unit consists of one share of common stock and one warrant.

The lead underwriter is listed as Citigroup Global Markets.  This SPAC intends to target financial or business service industries but is not limited to these industries by policy. The CEO, President, and Chairman of the Board, Michael Martin, has high level experience at UBS and Credit Suisse.

This SPAC has dipped in its debut down to $9.79 and had traded roughly 10 million units as of 11:30 AM EST.

Rachel Lopez
February 27, 2008

Posted on: February 27, 2008 – 11:37 am in IPOs, , ,