Posts for Ticker ‘TOH’

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, , , , , , , ,

SPAC Live Deals Report and Stake Sales (TTY, NAQ, CLA, TMI, IDI, IAQGU, TOH)

bankSPACupdate.com produces reports on blank check companies, stake purchases and live deal situations.
 
Three blank check companies: 2020 ChinaCap Acquiro (AMEX: TTY), NRDC Acquisition (AMEX: NAQ) and Capitol Acquisition Co. (AMEX:CLA), are all trading at or above their trust values prior to their deal votes. This signals growing investor confidence in the targets the SPACs have selected. Read More »

Posted on: September 29, 2009 – 4:37 am in Small Cap Stocks, , , , , ,

GHL Acquisition Seals its Deal, Two More SPACs Await Votes this Week

SPACupdate.com monitors live deals involving blank check companies, associated stock and warrant transactions and relevant personnel moves.
 
GHL Acquisition Co. (AMEX: GHQ) completed its merger, bringing public satellite operator Iridium Holdings. The company’s shares were trading at $10.10 each at the close of trading Wednesday, prior to the announcement. The company announced that 16 million more shares, to be priced at $10 each, will be made available until Sept. 29, when the offer—and the merger—are both expected to be completed. The SPAC’s trading above redemption value so close to its vote date (many blank checks have seen share value tumble around the time of a deal vote) and its additional share offering are both positive signs for the company. Read More »

Posted on: September 24, 2009 – 9:26 am in Private Equity, , ,

SPAC Merger Votes This Week; More Deal Votes Announced (GHQ, TOH, CLA, HLD, GHC, DSP)

SPACupdate.com monitors live deals involving blank check companies, associated stock and warrant transactions and relevant personnel moves. This week brings several issues and votes  in the special purpose acquisition company sector.

GHL Acquisition Co. (AMEX: GHQ) will have its vote Wednesday, Sept. 23, to bring Iridium Holdings, a satellite company, public. Although the SPAC has until 2010 to complete its merger vote, multiple sources have indicated that, after a lengthy wait for federal approval, the blank check has secured enough votes to complete the deal. GHL’s warrants, now trading at around $3.30, support this.

Hicks Acquisition Co. (AMEX: TOH) will have its vote  Thursday, Sept. 24; the SPAC recently moved its merger vote back by one day. As its vote to bring Resolute Natural Resources public nears, the blank check has increasingly sought out investors to support its deal. Ever since Hicks Acquisition dumped target Graham Packaging, investors SPO Advisory (22.5%) and Advisory Research Fund (5.56%) have taken stakes in the SPAC sources say will be voted in favor of its deal. The blank check has until Sept. 28 to complete its deal. Hicks may be closing in on getting sufficient shareholder support; more than 13 million shares of the SPAC have traded at or around its trust value since Sept. 15. Warrants are trading at around $0.56.

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Posted on: September 22, 2009 – 9:57 am in Mergers and Buy Outs, Private Equity, , , , , ,

Many Key SPAC Developments (HLD, GHQ, IAQGU, TOH, TTY, NSAQ)

We have seen many significant developments in recent days regarding the field of M&A in form of Special Purpose Acquisition Companies, or SPACs.  SPACUpdate.com sent us some key data on Secure America Acquisition Co. (AMEX: HLD), GHL Acquisition Co. (AMEX: GHQ), Hicks Acquisition Co. (AMEX: TOH), 2020 ChinaCap Acquisition Co. (AMEX: TTY), and in North Shore Acquisition Co. (OTC: NSAQ).  Many have written off SPACs as a class, but based on the calendar and news flow a blanket bet against the class looks like a blind bet.
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Posted on: September 8, 2009 – 1:09 pm in Activist Investor, Calendar, IPOs, Mergers and Buy Outs, , , , , ,

SPAC Goes Operational: Hicks Acquisition Becoming Graham Packaging (TOH, BX)

Hicks Acquisition Company I, Inc. (AMEX: TOH) has reached an agreement in principle to go from SPAC to operational.  The deal and terms are subject to execution of a definitive agreement, although the company noted that this is expected to be finalized in the next few days.  Hicks Acquisition will merge with Graham Packaging Holdings Co. through a transaction with Hicks Acquisition.  Interestingly enough, this will be in partnership with The Blackstone Group L.P. (NYSE: BX) and the Graham Group.

Hicks Acquisition is a Dallas-based special purpose acquisition company, or SPAC, that was founded and headed by Thomas O. Hicks.  This is also going to be one of the larger SPAC transactions that has ever been announced.  With the debt and financing from partners, this SPAC merger will be valued at approximately $3.2 Billion.  This may even be a record for a SPAC, or at least for the sector it is entering.

After the transaction, the combined enterprise will be renamed Graham Packaging Company and will list on the New York Stock Exchange.

Blackstone has also agreed that it will maintain the largest ownership stake for at least two years as it continues to play an important role in guiding the company strategically and operationally.

Graham Packaging was founded in 1972 and is based in York, PA.  Its 2007 sales are represented as roughly $2.5 Billion.  Graham Packaging is a market leader in custom plastic containers, producing more than 20 billion container units annually at 83 manufacturing plants in North America, Europe and South America. It calls itself the leading supplier of plastic containers for hot-fill juice and juice drinks, sports drinks, drinkable yogurt and smoothies, nutritional supplements, wide-mouth food, condiments, beer, liquid laundry detergent and motor oil.  Certain key customer names are Pepsi, Coca-Cola, Danone, Ocean Spray, Heinz, Abbott, Nestle, Anheuser-Busch,and many more.

Hicks Acquisition I has been public since its IPO in October 2007.

Jon C. Ogg
June 30, 2008

Posted on: June 30, 2008 – 8:47 am in IPOs, Mergers and Buy Outs, Private Equity, ,