More SPAC Deal & Warrant News (EDS, TGY, NSAQ, CAEL)

Banking, finance, and taxes

Published: November 24, 2009 9:07 am

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.

Exceed Co. (NASDAQ: EDS), the Chinese apparel maker brought public through 2020 ChinaCap Acquiro, announced that it will accept warrants in exchange for shares on a 3.96:1 basis. The deal offers warrant holders a quick, guaranteed option into the company’s shares and to Exceed execs, to them it offers a quick chance to curb dilution. The offer begins Nov. 30, and will continue for 20 business days after; at the end of the offer, Exceed warrants’ old rules revert back into place.

Next week’s deal has Tremisis Energy Acquisition II (AMEX: TGY) looking to bring public Asiana IDT, a Korean information technology firm, on Dec. 1. The SPAC is one of two that were redirected by Sang Chul-Kim when the Korean businessman assumed control; North Shore Acquisition (OTC: NSAQ) is his other buyout vehicle. That SPAC has until Dec. 5 to complete its merger, although it aims to extend that until March 2010.

Camden Learning (OTC: CAEL) completed its deal to buy National American University, an online college operator. The SPAC’s success came on an $8 million forward contract with an unnamed investor; it looks as if there is another player in the blank check market looking to fill Victory Park Capital Advisors’ shoes.

For more on these mergers and other deal votes, please visit www.SPACupdate.com.

Take Charge of Your Retirement In Just A Few Minutes (Sponsor)

Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.

Here’s how it works:

Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.

Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!