Another Special Purpose Acquisition Company, or SPAC, has bitten the dust. This one bit the dust before it even launched. In a filing with the SEC, Greenstreet Acquisition Corp. is the latest "public-private equity" firm to disappear.
You can guess the reasons here: "In light of current market conditions,the Company has determined not to effect at this time the initialpublic offering to which this Registration Statement relates."
As with most withdrawals, no securities have been sold nor offered, yetthe company can undertake a subsequent private offering in reliance onSecurities Act Rule 155(c).
Jon C. Ogg
January 9, 2009