"Blank check" offerings are risky but popular

As many of you know, "blank check" IPOs are deals in which a vehicle raises money that will be invested in a specific market. A good example is the East India Company Acquisition, which has filed to raise $36 million. It aims to identify and invest in Indian companies, which many agree are a fertile market. Most will tell you that these kinds of deals are on the risky side--so, it is imperative that investors look carefully at the registration material. BusinessWeek has some issues with the East India deal.

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