2020 ChinaCap Acquirco, Inc. Completes Initial Public Offering
21 November 2007 - 11:26PM
PR Newswire (US)
NEW YORK, Nov. 21 /PRNewswire-FirstCall/ -- 2020 ChinaCap Acquirco,
Inc. (AMEX:TTY.U) announced today that it consummated its initial
public offering of 7,500,000 units on November 15, 2007. Each unit
consists of one share of common stock and one warrant. The units
were sold at an offering price of $8.00 per unit, generating gross
proceeds of $60,000,000. In addition, the Company consummated a
private placement of 2,265,000 warrants at $1.00 per warrant to
entities affiliated with its management team. The initial public
offering and the private placement generated aggregate gross
proceeds of $62,265,000. Morgan Joseph & Co. Inc. acted as the
book running manager and GunnAllen Financial, Inc., Legend Merchant
Group, and Maxim Group LLC acted as co-managers. Of the proceeds
received from the consummation of the initial public offering and
the private placement of warrants, $59,405,685 (or approximately
$7.92 per unit sold in the initial public offering) was placed in
trust. Audited financial statements as of November 15, 2007
reflecting receipt of the proceeds of the initial public offering
and the private placement have been issued by the Company and are
included as Exhibit 99.1 to a Current Report on Form 8-K filed by
the Company with the Securities and Exchange Commission. 2020
ChinaCap Acquirco, Inc. is a public acquisition company recently
formed for the purpose of acquiring, through a merger, stock
exchange, asset acquisition or other similar business combination,
an operating business that is either located in China, has its
principal operations located in China, or would benefit from
establishing operations in China. Information about this offering
is available in the prospectus filed with the Securities and
Exchange Commission, a copy of which may be obtained from Morgan
Joseph & Co. Inc., 600 Fifth Avenue, New York, New York 10020.
A registration statement relating to these securities has been
filed with and declared effective by the Securities and Exchange
Commission. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities law of any such state. The
offering of these securities will be made only by means of a
prospectus. Contact: G. George Lu 508-624-4948 DATASOURCE: 2020
ChinaCap Acquirco, Inc. CONTACT: G. George Lu, ChinaCap Acquirco,
Inc., +1-508-624-4948
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