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Blank Check Company Files For IPO: MONGOLIA, Chasing Genghis Khan

[Нийтэлсэн: 11:26 09.06.2011 ]


The recession pretty much killed blank check companies and special purpose acquisition companies (or SPACs). After more than two years of an equity market recovery we have started to see periodic blank check companies file for initial public offerings. The newest filing is from Blue Wolf Mongolia Holdings Corp. It is probably going to stand out from other similar offerings. The company initially plans to list as a OTC-BB stock and it is intended to be focused on acquiring natural resource targets in Mongolia.An indication has been made the company will raise some $70,000,000.00 via the sale of 7,000,000 units. Each unit will come at the standard blank check offering price of $10.00 per share and will consist of one ordinary share and one warrant. Each warrant entitles the holder to purchase one ordinary share at a price of $12.00.

The underwriters of the offering were listed as Deutsche Bank Securities and Odeon Capital Group and the company also granted the underwriters a 45-day option to purchase up to an additional 1,050,000 units to cover over-allotments, if any.

Blue Wolf Mongolia Holdings Corp. is a newly organized British Virgin Islands blank check company which will “seek to capitalize on the significant strength of our management team to identify, acquire and operate a business operating primarily in Mongolia, although we may pursue acquisition opportunities in other geographic regions.”

Limitations are nil as the company may pursue an acquisition opportunity in any business industry or sector. It did note in the filing that it intends to focus on the natural resources sector and any related sectors due to its management team’s background. It can also focus on other geographic regions outside of Mongolia if such opportunities are better able to provide attractive financial returns.

Read more: Blank Check Company Files For IPO: MONGOLIA, Chasing Genghis Khan – 24/7 Wall St. http://247wallst.com/2011/06/08/blank-check-company-files-for-ipo-mongolia-chasing-genghis-khan/#ixzz1OkIdnOuw




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