Global Cornerstone Holdings Ltd. (GCRSF.OB: News ), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business. (RTTNews) - Global Cornerstone Holdings Ltd. (GCRSF.OB: News ), a newly-organized blank check company formed for the purpose of acquiring or merging with an operating business, said Monday its initial public offering of 8 million units at a price of $10.00 per unit for gross proceeds of $80 million. Each unit issued in the initial public offering consists of one ordinary share and one warrant to purchase one ordinary share at an exercise price of $11.50 per share. The company's units are expected to be quoted on the OTC Bulletin Board today under the ticker symbol "GCRSF". The company has granted the underwriters a 45-day option to purchase up to an additional 1.2 million units to cover over-allotments, if any.