$80M SPAC Buys Digital Sign Maker 4 Weeks Before Deadline

Law360, New York (December 14, 2012, 9:14 PM EST) -- SCG Financial Acquisition Corp. will acquire digital sign maker Symon Communications Inc. about a month before its deadline to sign up a deal or forfeit the $80 million it raised in an initial public offering last year, the special purpose acquisition company said Friday.

Like most SPACs — publicly listed shell entities that have an investor mandate to complete a deal — SCG's April 2011 IPO put a fixed amount of time on the clock for the company put investors' money to work or give it...
To view the full article, register now.