Another blank check company has also filed to come public via an IPO today. Inter-Atlantic Financial has filed to sell 7.5 million units at a propsed $60 million capital raise, but the IPO filing shows an aggregate $129+ million. This is indicated at $8.00 per unit out of Morgan Joseph as the only underwriter. This obviously has no background of operations, but here are the sectors it has ‘identified’ it wants to operate in: payment processing, transaction processing, financial data and content, banking, insurance, asset management, brokerage, credit card technologies, mobile finance solutions, consumer or commercial finance providers.
The people set to run this operation are actually ex-Smith Barney investment bankers with considerable experience listed on behalf of the founders. Other founders have various experience listed in the filing as well.
If you wish to read more about this blank check company you can read the SEC Filing here. The company plans to list on AMEX rather than NASDAQ or NYSE and the ticker has not yet been assigned.
Jon C. Ogg
February 14, 2007