Buffalo Capital V. Announces Business Combination with Aladdin Oil Corp.

Strategic Insights -

Buffalo Capital V. Ltd. has announced a business combination with Aladdin Oil Corp., a privately held oil and gas exploration and production company, aiming to take Aladdin public through a tax-free exchange. This move signifies a significant step towards achieving Aladdin's goal of going public. Meghan Robins, president and CEO of Aladdin, expressed optimism about the transaction, stating that it could close in September. Aladdin Oil has focused on growth through acquisition and exploration in the oil and gas industry.

Key Takeaways:

  • Buffalo Capital V. Ltd. has entered into a Letter of Intent with Aladdin Oil Corp. to conclude a business combination, resulting in Buffalo Capital V. Ltd. being the surviving entity.
  • The business combination is anticipated to be structured as a tax-free exchange, with an effective change of control.
  • The name of the surviving company is expected to be changed to Aladdin Oil.
  • Meghan Robins, president and CEO of Aladdin Oil, believes that the business combination will help achieve the goal of taking the company public.
  • Aladdin Oil Corp. has focused on growth through acquisition and exploration in the oil and gas industry.
  • The company's actual results may differ significantly from the forward-looking statements due to factors outside of management's control.

Statistics:

  • August 17, 1998: The date Buffalo Capital V. Ltd. announced the business combination with Aladdin Oil Corp.
  • September: The anticipated month for the business combination to close.
  • 1934: The year the Securities & Exchange Act of 1934 was amended, defining Buffalo Capital V. Ltd. as a "public" company.

Sources:

  • BUSINESS WIRE, Aug. 17, 1998