Posts for Ticker ‘CACA’

Chardan SPAC Deal Vote Kicks off Weeks of SPAC-tion (CACA, HMR, CIO)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  There is still much going on in the sector, and the key deals covered this morning are in Chardan 2008 China Acquisition Co. (NASDAQ: CACA), Sports Properties Acquisition Co. (NYSE: HMR), and Asia Special Situation Acquisition Co. (AMEX: CIO).  More detail has been provided on each.
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Posted on: January 11, 2010 – 9:17 am in Mergers and Buy Outs, Private Equity, , ,

SPAC-tacular SPACs and Blank Checks that Shot Blanks (TOH, REN, CCME, SCRQF, AUTC, GHC, CIO, PPAC, GHQ, IRDMU, TTY, GGEEF, TCW, IAQG, AYA, BPW, CACA, GSMEF)

Once thought to be slipping through the recession’s cracks and into oblivion, many special purpose acquisition companies not only succeeded in getting investors to sign off on mergers—some generated substantial value after the deal for shareholders. SPACupdate.com tracks these SPACs, and has anointed the year’s best blank checks—while also acknowledging a few flops in the asset class.
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Posted on: December 22, 2009 – 10:43 am in Mergers and Buy Outs, Private Equity, , , , , , , , , , , , , , , , , ,

Many SPAC Changes Ahead of Key Votes & Dates (HLD, CFQCF, CACA, WTWG, AUCUF, GHC, CSAQF, WTWG, IDI)

Money Stack ImageThere is quite a bit changing in the land of special purpose acquisition companies, a.k.a. SPACs. We have been provided some key special purpose acquisition data by SPACupdate.com, which tracks major stock and warrant purchases in blank check companies through its bimonthly investor updates.  Below, are investments and stake sales compiled from the last two weeks of August.   Integrated Core Strategies exited investments in SPACs with fast-approaching vote dates and Westway Group, brought public through Shermen WSC Acquisition earlier this year, saw substantial shareholder turnover recently.

As of August 25, 2009, Arrowgrass Capital Partners announced an 8.4% stake in Secure America Acquisition Co. (AMEX: HLD). The SPAC is yet to identify a target.  Weiss Capital stated in a 13G it has a 1.8% stake in China Fundamental Acquisition Co. (OTC: CFQCF). The SPAC is yet to identify a target.  Weiss Capital sold its stake in Chardan China 2008 Acquisition Co.; previously it held a 5.7% stake (NASDAQ: CACA). The SPAC is yet to identify a target.

As of August 19, 2009, HBK nearly doubled its stake in Westway Group, the company brought public via Shermen WSC Acquisition Co., to 17.4% (OTC: WTWG).

As of August 18, 2009, Victory Park Capital Advisors sold a stake of about 8.5% in AutoChina Intl., the company brought public via Spring Creek Acquisition Co. (OTC: AUCUF). Integrated Core Strategies, the investment arm of Israel Englander, reduced 11% to 2% its holdings in Global Consumer Acquisition Co. (AMEX: GHC).  The SPAC is currently having difficulty securing assets it planned to buy from Colonial BancGroup after that entity failed and was absorbed into BB&T.
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Posted on: August 26, 2009 – 3:03 pm in IPOs, Mergers and Buy Outs, Private Equity, , , , , , , ,