JWC Acquisition (JWC)

Clusterstock  Dec 10  Comment 
Lloyd's of London, the world's most prestigious insurer, operates a group called the Joint War Committee. It's in charge of determining the most dangerous ports, shipping lanes and coastlines in the world. Earlier this year, the JWC updated...




 
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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.[1]

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.[2]

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)[3]


References

  1. U.S. Securities and Exchange Commission "Blank Check Company"
  2. JWC S-1/A 2010 Prospectus Summary "General" pg 2
  3. http://www.renaissancecapital.com/JWC-Acquisition/ipo-JWC-U.html Renaissance Capital - IPO Home "JWC Acquisition (JWC-U)"]
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