THE SPAC WIRE
Posted June 22, 2010 2:23PM PST

The mortgage-backed security focused ARMOUR Residential REIT said last week that it raised $34.5 million in a follow-on stock offering. Full Story
Source: Press Release

Posted June 22, 2010 2:23PM PST

The shareholders of the failed SPAC Good Harbor Partners Acquisition Corp. are selling a 97.5% stake in the shell company for $450,000 to an investment team based in Taiwan. Full Story
Filing: SC 14F1

Posted June 17, 2010 3:54PM PST

The SPAC Ascend Acquisition Corp. said that it will become a real estate investment trust (REIT) through the acquisition of Patriot Investment Management and two real estate investment funds. Full Story
Filing: 8-K

Posted June 17, 2010 10:14AM PST

The board of RAM Energy Resources is weighing its options to increase shareholder value, which may include a sale, refinancing or recapitalization.  Full Story
Source: Press Release

Posted June 10, 2010 2:22PM PST

The units in 57th Street General Acquisition Corp. can now be traded separately, according to a statement from the SPAC.
 Full Story
Sources: Press Release, 13G, 13G, 13G, 13G

Posted June 09, 2010 4:15PM PST

Navios Maritime Acquisition Corp. appointed former Societe Generale investment banker Brigitte Noury and Navios Maritime Holdings Vice President Anna Kalathakis to its board of directors. Full Story
Source: Press Release

Posted June 09, 2010 4:15PM PST

Veterinary hospital company PET DRx Corp. is being acquired by its larger competitor VCA Antech Inc. for about $41.3 million in cash. Full Story
Source: Press Release

Posted June 04, 2010 2:46PM PST

Real estate services company Kennedy-Wilson Holdings said that it has received a capital commitment of up to $250 million from Fairfax Financial Holdings to make commercial real estate acquisitions and purchase loans and real property.  Full Story
Sources: Press Release, Press Release

Posted June 04, 2010 2:46PM PST

The shares, warrants and units of Western Liberty Bancorp have been delisted by the NYSE Amex Stock Exchange as of today, according to a regulatory filing by the Las Vegas-based bank holding company.  Full Story
Filing: 25-NSE

Posted June 03, 2010 2:58PM PST

The reinsurance company GEROVA Financial Group said yesterday that it decreased the strike price from $7.50 to $7 on 17.7 million existing warrants.  Full Story
Source: Press Release

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May 2010

Year's First SPAC Has New Wrinkles

57th Street General Acquisition Corp., the first and only SPAC initial public offering to price in 2010, could also prove to be a game changer for the stagnant SPAC market. Full Story


SearchMedia Faces Lawsuits, Stock Cancellations

Just two months after merging with Ideation Acquisition Corp., problems began surfacing at Chinese advertising company SearchMedia Holdings Ltd., which could ultimately lead to share cancellations and litigation. Full Story


Less than three years after merging with the SPAC Freedom Acquisition Corp., GLG Partners is being acquired by The Man Group, another publicly traded British hedge fund management firm. The deal values GLG at less than half of what it was in the Freedom merger. Full Story


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