One of the mysteries of the English language finally explained.
A company that sells stock without specifying how invested money will be spent.
- ‘‘In the 1980s there were lots of bad guys engaged in blind pools and shells,’ says David Feldman, a partner at the New York City law firm of Feldman Weinstein.’
- ‘Landmark raises a follow-on blind pool to continue the primary fund-of-funds investment program.’
- ‘The primary purpose of many blind pools is to raise funds to acquire a private firm that wants to go public without going through the usual regulatory steps; stocks are usually offered at low prices, often under five dollars a share.’
- ‘These are blind pools that have been wildly successful at raising money from small investors to buy operating businesses.’
- ‘Deborah Seine, managing director in the ABCP group at Fitch Ratings, said that these ABCP conduits are ‘blind pool financing vehicles’ so that an investor doesn't know who are the ultimate sellers in the program.’
- ‘Under the new rules, sponsors of a blind pool will need five years of real estate experience.’
- ‘The blind pool of money is publicly raised through an IPO, with the acquisition target typically in a specified industry.’
- ‘In this respect Nordcapital takes a leading position in the segment of closed-end private-equity funds, where blind pool concepts are dominant.’
- ‘Historically, offerings by blind pools and blank check companies were limited by Rule 419 of the Securities Act of 1933 and later by the Penny Stock Reform Act of 1990.’
- ‘Instead, the Hughes blind pool turned out to be a plain old ‘pump and dump’ stock swindle allegedly dreamed up to help pay off a former stockbroker's mob debts.’
- ‘Entrepreneurs can choose from all manner of investment vehicles, from venture capital to partnerships to blind pools.’
- ‘Now, seasoned corporate deal makers with operational expertise are backing these so-called blind pools in their most recent incarnation: specified purpose acquisition companies, or SPACs.’
- ‘By combining resources and employing the flexibility of a blind pool, we achieved geographic and product type diversity on a scale that would otherwise be out of reach.’
- ‘Recent SEC filings show that Amaranth is also a big-time player in the speculative world of blind pool investing.’
- ‘One type of investment instrument that snares unwary investors is the ‘blind pool’ offering.’
- ‘Whether it is achieved by evergreen funds, merchant banking, or blind pools with stage- and instrument-independent strategies is a detail.’
- ‘DiamondRock started as a blind pool in mid-2004, when we raised $210 million of equity in a 144A private offering.’
- ‘We have seen the blind pools of ancient days return and multiply by endless crossing and pyramiding as the investment trusts of today.’
Top tips for CV writingRead more
In this article we explore how to impress employers with a spot-on CV.