“Apple Computer co-founder Steve Wozniak raised $150 million through an initial public offering for Acquicor, a company designed to buy promising tech companies and take them public. Acquicor plans to acquire businesses in the technology, multimedia, or networking sectors with the aim of making their products converge. The firm is led by Gil Amelio, the former CEO of Apple who helped to bring Steve Jobs back to Apple only to be replaced by him in 1997. During Mr. Amelio’s tenure, he bought Mr. Jobs’ NeXT and launched Mac OS 8, but watched the stock drift down to a 12-year low. Mr. Amelio is currently a senior partner at Sienna Ventures, a VC firm based in Sausalito, California. Mr. Wozniak will act as executive vice president and chief technical officer,” Red Herring reports.
“The firm listed on the American Stock Exchange on Tuesday under the ticker AQR.U, selling 25 million units consisting of one share of common stock and two warrants at a price of $6. The warrants, which may be exercised at a strike price of $5, will separate from the shares when the underwriters exercise their option to purchase another 3.75 million units,” Red Herring reports. “The units closed at $6.80 at the end of their first day of trading and were trading recently at $6.89.”
Full article here.
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Apple alumni Amelio, Hancock, Woz start Acquicor Technology ‘blank check’ company – February 15, 2006