Oasis Group, Inc. is yet another special purpose acquisition company, or SPAC, that has filed to come public via an IPO. The company has filed to raise $300 million with a sale of 30 million units, with each unit consisting of 1 share at $10.00 per share and 1 warrant with a $7.50 strike price. The sole book-runner is listed as Bear Stearns and it will trade under the ticker "OGH" on AMEX.
While no business has been set in stone, its first objective is to acquire businesses or assets in the lodging or hospitality sectors, with a particular focus on hotels, resorts and related businesses.
Beny Alagem, is its Chairman, CEO & President, and the filing says he has over 30 years of experience acquiring, building, operating and selling private companies. Through Alagem Capital Group, LLC and its affiliates, Mr. Alagem has invested in the lodging and hospitality, commercial and industrial real estate, technology, and telecommunications sectors. ACG’s current investments are focused on lodging and hospitality. ACG acquired The Beverly Hilton in Beverly Hills, California in December 2003 and the Hilton Los Cabos Beach & Golf Resort in San Jose del Cabo, Mexico in April 2006.
Jon C. Ogg
March 4, 2008