Hicks Acquisition II (NASDAQ:HKACU) is a blank check company was created with the intent to find a potential merger, asset acquisition, or reorganization. A blank check company is a company which was created without a specific business plan or whose business plan is to merge or acquire an unidentified company.
Hicks fits this category and has not yet identified any business targets, but expects to look for a company with a strong track record, strong free cash flow, an experience management team, and well diversified customer and supplier base. Hicks Acquisition expects that a company with these characteristics will be the best candidate.
The company's initial public offering of stock on the NASDAQ and occurred on October 11, 2010. The company offered 15,000,000 shares each for $10. The goal of the IPO was to raise $150M in total. The lead underwriter of the deal was Citigroup (C)