GHL Acquisition prices IPO at $10/unit
The initial public offering of GHL Acquisition Corp priced at $10 per unit, the underwriter said on Thursday. GHL, whose principal stockholder is boutique merger advisory firm Greenhill & Co, is a "blank check" company.
By Agencies |
NEW YORK: The initial public offering of GHL Acquisition Corp priced at $10 per unit, the underwriter said on Thursday. GHL, whose principal stockholder is boutique merger advisory firm Greenhill & Co, is a "blank check" company.
Such firms, which also are known as special purpose acquisition vehicles, are formed for the sole purpose of acquiring other businesses. If GHL, which priced 40 million units, fails to buy another company within two years, it will liquidate its assets and return the money to shareholders.
GHL had filed for its IPO in November and applied to have the units listed on the American Stock Exchange under the symbol "GHQ.U".
Such firms, which also are known as special purpose acquisition vehicles, are formed for the sole purpose of acquiring other businesses. If GHL, which priced 40 million units, fails to buy another company within two years, it will liquidate its assets and return the money to shareholders.
GHL had filed for its IPO in November and applied to have the units listed on the American Stock Exchange under the symbol "GHQ.U".
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