Tuesday, June 26, 2007

Good Things Come

Six months have passed since the deal was first announced, but shareholders of Ithaka Acquisiton Corp., the special purpose acquisition company, last week agreed to the merger with Alsius Corp., the temperature control device company.

The merger gives the new entity--called Alsius Corp.--roughly $45 million in cash and a ticker on Nasdaq. We'll have a lot more on this IPO alternative and Alsius' future plans in our upcoming START-UP.

We'd love to hear any thoughts on the whole SPAC model, which really doesn't appear to have taken off, at least not in the health care industry.

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