ROI Acquisition Corp. (NASDAQ:ROIQ)’s shares up by 7.94%

by Tom Kelly | Tuesday, May 21, 2013 | 501 views

Northern, WI 05/21/2013 (usastockreport) – The share prices of ROI Acquisition Corp. (NASDAQ:ROIQ) increased to reach $10.98 per share during the trading session before it closed at $10.74 per share for the end of the day. This was 7.94 percent increase in share prices over the previous day. Though the trading volume of the company was less than half of its average trading volume at 31880 shares, ROI Acquisition Corp. (NASDAQ:ROIQ) had reached a new high of $10.98 per share for the past 52 weeks.

ROI Acquisition Corp. (NASDAQ:ROIQ) had recently announced that 1.65 million shares of its common stock would be purchased by its sponsor and sponsor affiliate. This share purchase is in connection with the company’s acquisition of Everyware Global Inc. and the parties involved in this purchase are Clinton Magnolia Master Fund Ltd. and its affiliate Clinton Spotlight Master Fund, L.P. The purchases are to be executed as a private placement transaction at the rate of $10 per share.

The purchase of 1.65 million shares would be sufficient to finance around $90 million for payment of cash consideration to the shareholders of Everyware Global Inc. ROI Acquisition Corp. (NASDAQ:ROIQ) had agreed for lock up of 180 days for the shares issued by the company to the shareholders of Everyware Global Inc. over the acquisition plan. The same 180 days lock up period would also apply to the 1.65 million shares to be purchased by the sponsor and sponsor affiliate from ROI Acquisition Corp. (NASDAQ:ROIQ). This purchase of shares would result in readjustment in the ownership structure of the capital of the company.

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