International Brands Management Group, a SPAC, or special purpose acquisition company, has amended its IPO again. It is set to trade under the ticker "IBL.U" on the American Stock Exchange.
The company now plans to offer 10 million units compared to the previous 15 million units at $10 a piece. The filing was originally submitted on November 21, 2007.
International Brands Management Group plans to target businesses in the consumer-oriented sector in the U.S. or internationally and the lead underwriter is listed as Pali Capital. Others noted are Maxim Group, Morgan Joseph, and HCFP/Brenner Securities.
With so many SPACs still in the "pending IPO status" and with a stock market that is still mostly in the "show-me" state, you have to wonder if this is the only SPAC that will lower some terms.
February 29, 2008