Investing
BLANK CHECK IPO FILING: STACCATO ACQUISITION CORP. (MWRK, CHUX, RPSD)
Published:
It’s been a while since we have seen many blank check or special purpose acquisition company (SPAC’s) file to come public. We just saw a filing for an IPO from Staccato Acquisition Corp., although it is rather small with a $49 million offering planned. The company also plans to trade on the OTC Bulletin Board.
It has filed to sell 6.125 million units with an $8.00 per unit price. Each unit will consist of one share of common stock and one warrant with a $6.00 strike price.
EarlyBirdCapital, Inc. is the lead underwriter, and co-managers are listed as Morgan Joseph and as Pali Capital, Inc. EarlyBirdCapital, Inc., the representative of the underwriters, has been granted a 45-day option to purchase up to 918,750 units to cover over-allotments.
This is a newly formed blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with operating businesses or assets that derives more than 50% of its revenues from any one or more segments of the construction, engineering, water, design, environmental, energy, recycling, waste management, logistics or related industries.
The company lists several companies under its "conflicts of interest" where management or deal seekers with the company will have to present possible deals to these companies before they present them to Staccato, although the sectors these are in and the small size may keep these from mattering:
Jon Ogg
June 13, 2008
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.