Stone's throw of the dice; Former Stone Container chief executive launches 'blank-check IPO'.(News)(initial public offering)(Smurfit-Stone Container Corp.)

Crain's Chicago Business, May, 2005 by Tita, Bob

Byline: BOB TITA Roger Stone, the former CEO of Stone Container Corp., is floating an initial public offering of shares in, well, Roger Stone. Mr. Stone, 70, represents the primary asset of Stone Arcade Acquisition Corp., which filed earlier this month to raise $180 million for acquisitions of paper, packaging and wood products companies.

Stone Arcade is offering 30 million shares at $6 each. Commonly known as a "blank check IPO,'' the financing strategy is gaining popularity as an alternative to private equity and venture capital. Typically, the company relies on the track records of its founders to attract investors. "The only thing (investors) have to go on is the principals in the company, their reputations and what they've accomplished,'' says John...

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