SPAC IPO Filing: Accelerated Global Technology Corp.

For some reason, you'd think the amount of filings for new IPO's categorized as blank check companies has been a floodgate.

Accelerated Global Technology Corp., a special purpose acquisition company or SPAC, filed yesterday to sell 30 million units at $10.00, with each unit being 1 share and one warrant.

The underwriters have the option to sell 4.5 million more units.  This is coming from Citigroup and Jefferies. 

"We are focused on identifying a prospective target business in the technology industry, however, we will not be limited to a specific industry. To date our efforts have been limited to organizational activities as well as activities related to this offering. We do not have any specific initial business combination under consideration."

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Jon C. Ogg
November 21, 2007