SPAC IPO Filing: CAPITAL TEN ACQUISITION CORP.

CAPITAL TEN ACQUISITION CORP., a special purpose acquisition company, or a SPAC or Blank Check company, has filed to come public via an IPO.  This is a small deal with 7.5 million units being filed to come public at $8.00, although this is 8.625 million after the overallotment option.  Each unit consists of one share of common stock and one warrant.  Ladenburg Thalmann & Co. Inc. is being tapped as the underwriter here.

• Here are excerpts from the self description: "We are a blank check company…. with the purpose of effecting a merger…. We intend to focus our efforts on the global information technology industry, which includes software, technical services, business process outsourcing and mobile computing, both within the United States and internationally… Although we intend to focus on identifying acquisition candidates in the IT industry and will not initially actively seek to identify acquisition candidates in other industries, in the event that an opportunity is presented to us in another industry, we may consider pursuing that opportunity if we conclude that it represents an attractive opportunity for us…."

Management isn’t green.  Edward Boykin is its Chairman of the Board since our inception. Prior to his retirement in June 2003, Mr. Boykin was president and chief operating officer of Computer Sciences Corporation (NYSE: CSC) with responsibility for CSC’s line organizations in Europe, Asia, Australia and the Americas.

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Jon C. Ogg
November 30, 2007