SPAC was to buy a managing general insurance agency

• For $110mm, plus up to $65mm in an earn-out

• NAO news - stock chart

Announced 8.10.07

• Press release
• Form 8-K
• Slide presentation
• 10-K summary

Developments

• Deal voted down   3.25.08 
• Stockholders meeting postponed third time   3.10.08
• Stockholders meeting postponed again   2.28.08
• Stockholders meeting postponed   2.19.08 
• Slide presentation   1.17.08 

Deal voted down by SPAC shareholders

• SPAC may liquidate in response
• Deal voted down   3.25.08 
• Stockholders meeting postponed third time   3.10.08
• Stockholders meeting postponed again   2.28.08
• Stockholders meeting postponed   2.19.08

Financial

• Target: Keefe Bruyette
• SPAC: Keefe Bruyette / Stone Ridge Advisors

Legal

• Target: Dewey Ballantine
• SPAC: Sidley Austin

Filed on announcement

• Form 8-K summary
• Purchase agreement

Proxy statements

• Preliminary  11.08.07
• Preliminary  12.20.07
• Preliminary  1.16.08
• Preliminary  1.29.08
• Preliminary  1.30.08
• Final 1.31.08

SEC comment letters

• SEC letter  12.05.07
• Company response  12.19.07
• SEC letter  1.06.08
• Company response  1.16.08
• SEC letter  1.24.08
• Company response  1.28.08

IPO summary

• $100mm units sold at $8.00
• CRT Capital Group
• Shearman & Sterling / Bingham McCutchen
• Delaware incorporated

SEC filings

• IPO prospectus  3.22.06

• EDGAR 

SPACs