exactly...they are an Acquisition Co---and have been trading well over .40 for years. May have terminated this one but not a one trick pony...not a small company here and have millions in the bank...I think over-reaction/screw up whatever---it will correct it self I believe but will be crazy while things unfold
If a transaction with Appleton is not consummated by July 14, 2012 (or September 14, 2012, in the event that the Amendment Proposal is approved), HACII will be required to commence proceedings to dissolve and liquidate and the outstanding HACII warrants will expire worthless. See section entitled “ HACII’s Business—Liquidation if No Business Combination ” for additional information.
Appleton Papers and Hicks Acquisition Company II Discontinue Proposed Business Combination
Volatile Market Conditions Cited
APPLETON, Wis. and DALLAS, July 13, 2012 /PRNewswire via COMTEX/ -- Appleton Papers Inc. ("Appleton") and Hicks Acquisition Company II, Inc. (HACII) (Nasdaq: HKAC), a special purpose acquisition company sponsored by Thomas O. Hicks, announced they have mutually agreed to terminate their proposed business combination due to volatile market conditions.
About AppletonAppleton creates product solutions through its development and use of coating formulations, coating applications and Encapsys microencapsulation technology. The company produces thermal, carbonless and security papers and Encapsys products. Appleton, headquartered in Appleton, Wis., has manufacturing operations in Wisconsin, Ohio and Pennsylvania, employs approximately 1,700 people and has been 100 percent employee-owned since 2001. For more information, visit www.appletonideas.com.