Nasdaq out for more SPAC business

Blank check companies are all the rage. Investment Dealers' Digest notes that the likes of Bruce Wasserstein, Joseph Perella, Thomas Hicks, Nelson Peltz and Ronald Perelman all have formed blank check companies. And the list is likely to grow. SPACs accounted for 25 percent of IPOs in 2007. The American Stock Exchange has benefitted, listing 50 blank check companies. Some of them switch to the Nasdaq once they make a deal, but the Nasdaq, whose existing rules don't allow blank check companies without assets to trade, wants more IPO activity. To that end, it has proposed some rule changes.   

For more:
- here's the article from Investment Dealers' Digest

Related Articles:
Blank check companies still hot. Article
Hedge fund aims for SPACs. Article
Blank check companies take off. Article
'Blank check' offerings are risky but popular. Article

Post a comment