JWCAcquisition (NYSE:JWC) 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.
JWC has not yet identified or announced any business targets, but expects to look for a company which has 5 general characteristics in a company: a middle market business between $300M and $1B, a strong industry position, revenue and net income potential, strong cash flow, and an experienced management team.
The company's initial public offering of stock on the NYSE and occurred on November 17, 2010. The company offered 12.5M shares each for $10. The goal of the IPO was to raise $125M in total. The lead underwriter of the deal was Citigroup (C)