Hicks Acquisition Company Inc fka HKACW

[~MulaGreen~]

"Cash assets of at least $40.0 million" Read...

The deal COLLAPSED prolly due to the Cash Assets is less than $40.0M

http://finance.yahoo.com/news/hicks-acquisition-company-ii-inc-035700077.html

PPLETON, Wis. and DALLAS, July 10, 2012 /PRNewswire/ -- Hicks Acquisition Company II, Inc. (HKAC) ("HACII"), a special purpose acquisition company sponsored and headed by Thomas O. Hicks, announced today that it plans to ask Appleton Papers Inc. (which will begin doing business as "Appvion" at closing) for a waiver of a closing condition to its proposed business combination with Appleton that currently requires there to be at least $82.0 million in cash held in trust, as long as HACII would otherwise still have cash assets of at least $40.0 million, in each instance after giving effect to any redemptions and permitted repurchases of HACII common stock in connection with the stockholder vote to approve the proposed business combination. As described below, certain officers and directors of HACII and their affiliates may engage in a private placement with HACII to supplement its cash assets. Appleton has not agreed to grant any such waiver and no assurance can be made that such waiver would be granted.
As previously disclosed, the $82.0 million closing condition was designed to ensure that HACII would have sufficient stockholder equity to comply with the listing standards of the Nasdaq Capital Market. If the $82.0 million closing condition is waived and the closing cash is less than $82.0 million, HACII might not qualify for continued listing on the Nasdaq Capital Market. As previously disclosed, Nasdaq has also raised questions as to whether Appleton will have the number of round lot holders required for listing on the Nasdaq Capital Market and objections with respect to the early redemption feature that would be available to stockholders that vote against the proposed amendment to HACII's certificate of incorporation. In addition, any reduction in the closing cash amount will reduce Appleton's ability to pay down its debt facilities.

There is "No more Deal" it ended yesterday.