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Two blank check companies are on deck for IPOs this week: Symmetry Holdings (SHJ.U), a holding company looking to acquire suppliers to the energy or energy-related infrastructure sector; and Churchill Business Ventures (CHV.U), which is looking to acquire or merge with a communications, media or technology company.

All quotations are from the companies' most recent S-1 filings with links provided for each company.


SYMMETRY HOLDINGS (SHJ.U)

Business Overview (from prospectus)

We are a development stage company, with nominal assets and without an operating business, organized under the laws of the State of Delaware on April 26, 2006. We were formed for the purpose of acquiring one or more operating businesses, through a merger, capital stock exchange, asset acquisition, stock purchase or other similar business combination, and managing such businesses. Our efforts in identifying target businesses will be focused on industrial, asset-based businesses, based in North America, that are in, or are suppliers to, the basic industries sector, including energy and energy-related infrastructure. This sector also encompasses a broad range of primary industries, including metals and materials, transportation and distribution, chemicals and mining. We believe that this sector is critical to economic expansion globally and that it will continue to grow as the global economy continues to expand.

We intend to seek a business combination with potential target businesses in the basic industries sector that:

• lack sufficient capital or project management expertise to successfully undertake major infrastructure projects;

• have established products and processes with manufacturing assets that are underutilized or have additional extractable capacity; and/or

• have business development opportunities with an advantaged product or process but are capital constrained and/or management constrained and/or unable to effectively exploit existing markets and/or new markets.

Upon the acquisition of a target business, our goal will be to maximize its throughput (i.e., the speed at which it generates cash through sales) through the application of a precise and consistent operating methodology – THE DECALOGUE™. THE DECALOGUE ™, co-authored by Domenico Lepore, our President, combines and deploys two management theories: the Theory of Constraints and W. Edwards Deming’s Theory of Profound Knowledge, including the use of statistical process control.

Offering: 18.8 million shares at $8.00/share. Most of the net proceeds of approximately $150 million will be held in trust until a business combination can be consummated. Legal, travel and administrative expenses will be subtracted from the gross proceeds.

Lead Underwriters: CIBC World Markets, Sunrise Securities Corp., FTN Midwest Securities

Financial Highlights:

We are not presently engaged in, and we will not engage in, any substantive commercial business for an indefinite period of time following this offering. We intend to utilize cash derived from the proceeds of this offering, our capital stock, debt or a combination of these in consummating our initial business combination. Although substantially all of the net proceeds of this offering are intended to be generally applied toward consummating our initial business combination, as described in this prospectus, the proceeds are not otherwise being designated for any more specific purposes. Accordingly, prospective investors will invest in us without an opportunity to evaluate the specific merits or risks of any one or more business combinations. Our initial business combination may involve the acquisition of, or merger with, a business which does not need substantial additional capital, but which desires to establish a public trading market for its shares, while avoiding what it may deem to be adverse consequences of undertaking a public offering itself. These include time delays, significant expense, loss of voting control and compliance with various federal and state securities laws. While we may seek to consummate business combinations with more than one target business, we will probably have the ability, as a result of our limited resources, to effect only a single business combination.


CHURCHILL BUSINESS VENTURES (CHV.U)

Business Overview (from prospectus)

Churchill Ventures Ltd. is a blank check company incorporated on June 26, 2006 for the purpose of effecting a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination with an unidentified operating business in the communications, media or technology industries.

Our management team, board of directors and advisory board have extensive experience in our target industries, as operating managers, investment professionals and dealmakers. We also have a deep history of international transactions and operations, including in Israel, the United States and Europe, along with substantial relationships and connections.

Our team includes seasoned investors and operators from the United States, Europe and Israel.

Offering: 12.5 million shares at $8.00 per share. Net proceeds of approximately $105 million will be placed in a trust account until management executes the acquisition. Churchill Capital Partners LLC, the company's principal stockholder, will receive a monthly fee of $7,500 for general and administrative expenses.

Lead Underwriters: Banc of America

Financial Highlights:

We are not presently engaged in, and we will not engage in, any substantive commercial business for an indefinite period of time following this offering. We intend to utilize cash derived from the proceeds of this offering and the private placement as well as our existing cash, our capital stock, debt or a combination of these in effecting a business combination. Although substantially all of the net proceeds of this offering and the private placement are intended to be generally applied toward effecting a business combination as described in this prospectus, the proceeds are not otherwise being designated for any more specific purposes. Accordingly, prospective investors will invest in us without an opportunity to evaluate the specific merits or risks of any one or more business combinations. A business combination may involve the acquisition of, or merger with, a company which does not need substantial additional capital but which desires to establish a public trading market for its shares, while avoiding what it may deem to be adverse consequences of undertaking a public offering itself. These include time delays, significant expense, loss of voting control and compliance with various Federal and state securities laws. In the alternative, we may seek to consummate a business combination with a company that may be financially unstable or in its early stages of development or growth. We would consider a company to be financially unstable if, for example, a substantial portion of its cash flow were dedicated to its debt service obligations or its expected capital expenditure requirements exceeded the ability of the target business to fund them. In addition, we would consider a business to be in its early stages of development or growth if it is newly formed and is in the process of developing its initial technologies, processes, services, or products. While we may seek to effect business combinations with more than one target business, we will probably have the ability, as a result of our limited resources, to effect only a single business combination.

Source: Two Blank Check IPOs: Symmetry Holdings, Churchill Ventures