Investing

SPAC IPO FILING: China Growth Alliance Ltd. (CGN)

China Growth Alliance Ltd. is another a blank-check company or special purpose acquisition company (or SPAC) that has filed to come public via an initial public offering.  It filed to sell up to $56 million in units and will trade…

By Douglas A. McIntyre
Published March 18, 2008, 1:51pm ET · 1 min read

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China Growth Alliance Ltd. is another a blank-check company or special purpose acquisition company (or SPAC) that has filed to come public via an initial public offering.  It filed to sell up to $56 million in units and will trade under the "CGN" ticker on AMEX.  China Growth plans to sell 7 million units in the IPO at $8.00 each. 

Its underwriting group consist of Ferris Baker Watts Inc., Jesup & Lamont Securities Corp. and Maxim Group LLC.  Each unit consists of one ordinary share and one Class B warrant, while each Class A warrant will entitle the holder to buy one ordinary share for $6.00.

As normal with blank-check and SPAC companies, China Growth will acquire an unspecified business.  While no business, nor even exact sector is assured, the company intends to focus initial efforts in locating a business with operations in the People’s Republic of China.  It’s a good thing they cleared that up, because that would have been almost impossible to tell by the name.  Management is as follows:

  • Dr. Bin Zhou, Chairman and Co-Chief Executive Officer;
  • Mr. Peifeng Zhu Vice Chairman and Co-Chief Executive Officer;
  • Mr. Dongbing Ma, Vice Chairman and President.

Jon C. Ogg
March 18, 2008

Contact [email protected] for any questions or corrections.

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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