SPAC IPO FILING: Sidhu Special Purpose Capital Corp. (SOV)

After today’s close, we have yet another special purpose acquisition company, or SPAC, that has filed to come public. Sidhu Special Purpose Capital Corp. filed for an initial public offering for $150 million in units. Each unit will consist of one share of common stock and one warrant with a $7.00 strike price. Sidhu will list on AMEX, although no ticker was designated. Bear Stearns is listed as the sole underwriter. WNH Holdings, LLC, is the sponsor company, and that is controlled by its chairman and chief executive officer, Jay S. Sidhu, who served as chief executive officer of Sovereign…
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  3 March, 2008| Economy | @ 22:40

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