Legal
NASAA Comes Out Swinging in Fight over Reg A+ Rules
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The North American Securities Administrators Association is pulling out the big guns in its battle regarding new Federal rule making for Regulation A+.
News
Kingsway Subsidiary to Sponsor SPAC
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Kingsway Financial Services (KFS) announced that its wholly-owned merchant banking subsidiary, 1347 Capital, LLC, has signed a letter of intent to sponsor an initial public offering by a special purpose acquisition company to be formed by it. The offering is expected to include 4 million units, each unit consisting of one share of common stock, one right to acquire one-tenth of a share of common stock, and one-half of a warrant to acquire a share of common stock, at an offering price of U.S. $10.00 per unit. Kingsway’s board recently appointed Gordon G. Pratt, CEO of Fund Management Group, as Chairman of 1347 Capital. Founded in 2011, 1347 Capital identifies and targets specialty insurance businesses and special-situation investments.
News
SPAC Said to be Eyeing Retailer Bluestem
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An unnamed SPAC is said to be looking at acquiring Bluestem Brands, which sells cosmetics and home goods to low- and middle-income customers through websites and catalogs, according to reports in the Wall Street Journal and Bloomberg. The company is working with Lazard Ltd. on a sale, according to the reports.
Executive Moves
H.C. Wainwright Hires Euro Pacific’s Ihle as Metals and Mining Analyst
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H.C. Wainwright & Co. has hired Heiko Ihle as senior metals & mining analyst in its equity research department.
