Adventures in Capitalism

By Matt McCleery

On January 18th, 2005, a special purpose acquisition company called Trinity Partners Acquisition Company Inc. issued a press release saying that it had signed a Letter of Intent for a business combination with Adventure Holdings. Then, in late March, the two companies announced that they had entered into a Definitive Agreement. The lawyers are likely hard at work on the proxy statement, which will be submitted to the SEC, voted on by shareholders, and ideally approved sometime this summer.

For those who don’t know the company, Adventure Holdings was set up as a holding company of shipowning entities and is owned by brothers George and Stathis Gourdomichalis (using an entity called “G Bros”) and their partner Ion Varouxakis (using an entity called “V Capital”). Trinity Partners is an acquisition company that did its IPO in August of 2004 through Brenner Securities and is listed on the NASDAQ bulletin board, where it trades under the symbol (OTCBB: TPQCA). Poseidon Capital in New York brought the parties together and is advising Adventure Holdings on the transaction.

This is only an excerpt of Adventures in Capitalism

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