Global Services Partners (GSPA.OB) Transaction Allows SouthPeak Interaction to Enter Public Markets
SouthPeak Interactive LLC and Global Services Partners Acquisition Corp. (OTCBB: GSPA) today announced they have reached an agreement in which SouthPeak’s shareholders will acquire a majority of the common stock of GSPAC, giving SouthPeak access to the public markets. As of April 10, 2008, there was $5.36 per share in trust. The companies anticipated that related institutional financing and business consolidation will take place in May 2008, which will value SouthPeak at $35 million and result in the anticipated issuance of 35 million shares to the shareholders. “These transactions will bring SouthPeak public at an opportune moment in the video…