pring Creek Acquisition Corp. Announces Trust Investment Details
BEIJING, Oct 09, 2008 /PRNewswire-FirstCall via COMTEX/ -- Spring Creek Acquisition Corp. (OTC Bulletin Board: SCRQF) (the "Company") announced today details related to the proceeds of its initial public offering being held in trust. As of October 2, 2008, the trust account totaled $40,671,000 (which number includes the full exercise of the over-allotment option and excludes the $449,017.18 distributed to the company for working capital purposes). The trust account is at HSBC Bank Hong Kong, and is maintained by American Stock Transfer & Trust Company acting as trustee. $100,000 of the amount in trust is currently held in cash with the remaining $40,571,000 invested in HSBC Tax Free Money Market Fund.
Spring Creek Acquisition Corp. is a blank check company recently formed for the purpose of acquiring, through a merger, stock exchange, asset acquisition or other similar business combination, an unidentified operating business having its primary business operations in the Great China area, which also include Hong Kong, Macau, and Taiwan.