Posts for Ticker ‘CFQCF’

Long-Past SPAC Deals Reach Back for Warrants, More Deal News (SGS, HOL, EST, CIO, PAX, TMI, CFQCF)

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.  Stream Global Services (AMEX: SGS), the business outsourcer brought public through SPAC Global BPO Services Co., has launched an offer to buy back its warrants from its blank check merger. As more than a dozen SPAC targets have leaped past their blank check’s IPO value, it is expected that investors will clamor to buy up warrants that offer big discounts on rising stock and that the companies affiliated with those blank checks will set out to curb dilution through buybacks.

Friday, China Holdings Acquisition Co. (AMEX: HOL) will have its deal vote to bring ceramic tile maker Jinjiang Hengda Ceramics Co., Ltd. The SPAC, earlier this week, entered into an agreement with forward contract champ Victory Park Capital Advisors to buy back 4 million shares at a small premium. The $150 million SPAC joins a long list of successful blank checks from this fall—among them, REIT-targeting vehicles Enterprise Acquisition Co. (AMEX: EST)—that used forward contracts to get their deals done.
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Posted on: November 18, 2009 – 8:50 am in IPOs, Mergers and Buy Outs, Private Equity, , , , , , ,

Many Key SPACs on Deck (PAX, TOH, EST, TCW, CFQCF, GQN, NSAQ, CIO)

We have been given some exclusive data from SPACupdate.com on the progress of many blank check and special purpose acquisition companies which their targets and relevant trading data. Prospect Acquisition Co. (AMEX: PAX), Hicks Acquisition Co. (AMEX: TOH), Enterprise Acquisition Co. (AMEX: EST), Triplecrown Acquisition Co. (AMEX: TCW), China Fundamental Acquisition Co. (OTC: CFQCF), Global Brands Acquisition Co. (AMEX: GQN), North Shore Acquisition Co. (OTC: NSAQ), and Asia Special Situation Acquisition Co. (AMEX: CIO) all have very recent or pending data important for SPAC and special situations investing.
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Posted on: November 13, 2009 – 9:23 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, , , , , , , ,