SPAC Alyst Acquisition Corp Agrees to Acquire China Networks Media Ltd.

Alyst Acquisition Corp. (Amex: AYA), a special purpose acquisition company ("Alyst"), today announced that it has signed an agreement and plan of merger to acquire all of the issued and outstanding shares of China Networks Media Ltd., a British Virgin Islands company ("China Networks"), which owns and is in the process of acquiring television station operating assets in the People's Republic of China (PRC) for $38.7 million

As part of the transaction, Alyst will redomesticate to the British Virgin Islands by means of merging with its wholly-owned subsidiary China Networks Holdings immediately prior to consummating its transaction with China Networks. Chardan Capital Markets, LLC ("Chardan") is acting as exclusive advisor to the transaction.

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SPAC China Healthcare Acquisition Corp Announces Definitive Agreement to Acquire Water Treatment Firm Europe Asia Huadu Environment Holding

On August 6, 2008, China Healthcare Acquisition Corp (CHM) announced a definitive agreement to acquire Europe Asia Huadu Environment Holding Pte, Ltd (EAHE).

Under the terms of the acquisition agreement, CHM will acquire 100% of the stock of EAHE for a total payment of 10,500,000 restricted shares of common stock of CHM. Based on the closing price of $5.75 per share on the American Stock Exchange on August 5, 2008, the value of the acquisition is $60,375,000.

In connection with the transaction, Mr. Wu Wing Shu of Sky Rainbow Investment Ltd. has agreed to purchase up to $8 million of CHM common stock in the open market at market prices.

Huadu Environment Holding manufactures water treatment equipment and provides construction and engineering services for water treatment projects in China. The transaction will provide the company with access to additional capital for expansion of its water treatment business. The company is a privately held Singapore company.

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Serial SPAC-trepreneurs at Chardan Capital Markets File Their Fourth on Nasdaq: Chardan 2008 China Acquisition Corp

Li Zhang and the Propper family continue their SPAC dynasty with their fourth SPAC, Chardan 2008 China Acquisition Corp, a $55 million IPO filed July 30, 2008. This SPAC is notable because it is one of the first to be filed on Nasdaq.

Kerry Propper, the owner and chief executive officer of Chardan Capital Markets LLC (formerly known as Gramercy Group), a New York based broker-dealer, has helmed three other SPACS thus far, raising nearly $100 million since his first $25 million SPAC in 2004, Chardan China Acquisition Corp. This was followed by two SPACs with acquisition territories divided by the Yangtze River priced on the same day in May 2005, Chardan South China Acquisition Corp and Chardan North China Acquisition Corp.

In November 2005, Chardan China Acquisition Corp. completed its business combination with State Harvest Holdings Ltd. and changed its name to Origin Agritech Limited (Nasdaq: SEED).

Chardan North China Acquisition Corporation announced in late 2007 that its shareholders approved the acquisition of a controlling interest in Beijing HollySys Company and Hangzhou HollySys Automation Company. Chardan South China Acquisition Corp filed to liquidate following an unsuccessful bid to complete its acquisition of Liaoning GaoKe Energy Group.

Click here for the Chardan 2008 China Acquisition Corp filing