There are three blank check companies due to go public this week; Atlas Industries Holdings (AAAA), a recently formed entity that will acquire two paper/packaging companies and two metal manufacturing equipment businesses; Enterprise Acquisition (EST), a recently formed blank-check company with an unspecified acquisition target; and Golden Pond Healthcare (GPH), a blank check company looking to acquire an operating business in the healthcare industry.
All quotations are from the companies' most recent S-1 filings with links provided.
We have been formed to acquire and manage a group of small to middle market businesses. Through our structure, we offer investors an opportunity to participate in the ownership and growth of a portfolio of businesses that traditionally have been owned and managed by private equity firms, private individuals or families, financial institutions or large conglomerates. The acquisitions of our initial businesses will provide our investors with an immediate opportunity to participate in the ongoing cash flows of a diversified portfolio of businesses through the receipt of regular quarterly distributions. Further, we believe that our management and acquisition strategies will allow us to achieve our goals of growing distributions to our shareholders and increasing shareholder value over time.
Offering: 13.3 million shares at $14.00 - $16.00 per share. Net proceeds of approximately $186.0 million will be used to capitalize and make loans to the company's acquisition subsidiaries to acquire the equity interests of the company's initial businesses on a debt free basis; to pay fees, costs and expenses incurred in connection with this offering; to pay off debt and for general corporate purposes.
Lead Underwriters: Ferris Baker Watts, JMP Securities, Oppenheimer & Co.
Metal Net Sales: Net sales increased approximately $15.0 million, or 38.8%, from approximately $38.7 million for the six month period ended June 30, 2006 to approximately $53.7 million for the six month period ended June 30, 2007. Forest Net Sales: Net sales increased approximately $3.4 million, or 4.3%, from approximately $79.2 million for the six month period ended June 30, 2006 to approximately $82.6 million for the six month period ended June 30, 2007. CanAmPac Net Sales: Net sales decreased approximately $651, or 1.3%, from approximately $48.6 million for the six month period ended June 30, 2006 to approximately $48.0 million for the six month period ended June 30, 2007.
Pangborn Revenues: Revenues increased approximately $1.7 million, or 12.5%, from approximately $13.6 million for the six month period ended June 30, 2006 to approximately $15.3 million for the six month period ended June 30, 2007.
ENTERPRISE ACQUISITION CORP. (EST)
Business Overview (from prospectus)
We are a blank check company organized under the laws of the State of Delaware on July 9, 2007. We were formed with the purpose of effecting a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Our efforts in identifying a prospective target business will not be limited to a particular industry. To date, our efforts have been limited to organizational activities.
We do not have any specific business combination under consideration. Our officers and directors have neither individually identified or considered a target business nor have they had any discussions regarding possible target businesses amongst themselves or with our underwriters or other advisors. We have not (nor has anyone on our behalf) contacted any prospective target business or had any discussions, formal or otherwise, with respect to a business combination transaction. We have not (nor have any of our agents or affiliates) been approached by any candidates (or representative of any candidates) with respect to a possible acquisition transaction with our company. Additionally, we have not, nor has anyone on our behalf, taken any measure, directly or indirectly, to identify or locate any suitable acquisition candidate, nor have we engaged or retained any agent or other representative to identify or locate any such acquisition candidate.
Offering: 25.0 million shares at $10.00 per share. Most of the net proceeds of approximately $231,700,000 will be placed in a trust account.
Lead Underwriters: UBS Investment Bank, Ladenburg Thalmann
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 effecting a business combination. Although substantially all of the net proceeds of this offering are intended to be applied generally toward effecting a business combination as described in this prospectus, the proceeds are not otherwise being designated for any more specific purposes. Accordingly, investors in this offering are investing without first having 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
We are a blank check company organized under the laws of the State of Delaware on May 15, 2007. We were formed to acquire, through a merger, capital stock exchange, asset or stock acquisition or other similar business combination, one or more domestic or international operating businesses. Although we may acquire a non-United States business, our primary search for acquisition targets will focus on domestic operating businesses. We intend to focus our efforts on the healthcare industry, although under certain circumstances we may consider a prospective target in another industry.
Offering: 15.6 million shares at $8.00 per share. Net proceeds of approximately $123,125,000 will be placed in a trust account.
Lead Underwriters: Deutsche Bank, Lazard
Financial Highlights:We have neither engaged in any operations nor generated any revenues to date. Our entire activity since inception has been to prepare for our proposed fundraising through offerings of our equity securities.