Markets

Committed Capital SPAC Raises $35M in IPO

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Committed Capital Acquisition Corp. (CCAQU)  has completed its IPO, raising $35 million. The SPAC sold an aggregate of 7,000,000 units at a price of $5.00 per unit. Each unit issued consisted of one share of common stock and one warrant to purchase one-half of one share of common stock at an exercise price of $5.00 per whole share. The company's units began trading on the OTCBB under the ticker symbol "CCAQU" on April 11, 2014

Broadband Capital Management acted as sole manager and representative of the underwriters of the offering.

Markets

Liberty Bell Bank Raises $3M at 9% Premium

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Liberty Bell Bank (LBBB) announced that it has raised $2,900,000 in a Common Stock transaction. The common stock was sold at $1.00 per share, an approximate 9% premium to the market price ($0.92) of LBBB at deal announcement. The transaction is expected to close by May 12, 2014. This Placement is part of a $5 million financing. The other $2.1 million was funded in the form of a public offering.

Markets

OTC Markets Rolls Out New Requirements, Fees for QB and QX

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OTC Markets Group has introduced new listing requirements for its “QB” and “QX” listings in an attempt increase the speed and amount of disclosure to investors by companies listed in the two upper tiers of its stock quotation service. The changes, unveiled late last week, introduce minimum share price requirements and annual listing fees to the OTCQB tier, and create specific listing requirements on the OTCQX tier for publicly reporting bank holding companies. The biggest changes are aimed at the OTCQB, the alternative to the OTCBB operated by FINRA. Beginning May 1, 2014, all companies quoted on the “QB” will be subject to a minimum bid price of one cent ($.01), an annual management certification signed by the CEO or CFO confirming the company’s information in its profile at OTCMarkets.com is current and complete, and provide additional information on its officers, directors, and controlling shareholders. In addition, existing companies on the QB will be required to pay a listing fee of $7,500 a year, and newly listed companies $10,000 annually.