Ariana Research
Long/short equity, deep value, special situations

Quartet Merger Rights: 40% Upside For A Short-Term Event Driven Investment

Executive Summary - Situation Type - Event Driven

Recommendation: Purchase Quartet Merger Corporation (QTET) Rights ("Quartet, "QTETR" or the "Company"), as the Quartet rights are an attractive event-driven investment opportunity which currently offers prospective investors 40% upside for an investment with a duration of ~27 days.

Quartet is a special purpose acquisition corporation ("SPAC"), also known as a blank check company, which IPO'd on 11/01/2013 raising roughly ~$100MM. QTET is sponsored and backed by well-regarded activist investor Eric Rosenfeld of Crescendo Partners and advised by Joel Greenblatt, famed value investor and author of "You Can Be a Stock Market Genius".

Situation Overview

On April 30th, 2014, Quartet announced the proposed reverse merger transaction with Pangaea Logistics, a provider of maritime

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