Website: N/A
Stock Symbol: NASDAQ: RLOG
Market Value: N/A (in millions)
Rand Logistics, Inc. (formerly Rand Acquisition Corporation) was
incorporated in the State of Delaware on June 2, 2004 as a blank check company
to effect a merger, capital stock exchange, asset acquisition or other similar
business combination with an operating business. On November 2, 2004, we closed
our initial public offering of 4,000,000 units with each unit consisting of one
share of our common stock and two warrants, each to purchase one share of our
common stock at an exercise price of $5.00 per share. The units were sold at an
offering price of $6.00 per unit, generating gross proceeds of $24,000,000. On
November 3, 2004, we sold an additional 600,000 units pursuant to the
underwriters' over-allotment option raising additional gross proceeds of
$3,600,000. After deducting the underwriting discounts and commissions and the
offering expenses, the total net proceeds to us from the offering were
approximately $24,605,000.