Ideation Acquisition Corp. and SearchMedia International Limited Announce Participation in Upcoming Investor Conferences
08 May 2009 - 6:01AM
Marketwired
Ideation Acquisition Corp. ("Ideation" or the "Company") (NYSE
Amex: IDI) (NYSE Amex: IDI.U) (NYSE Amex: IDI.WS) and SearchMedia
International Limited ("SearchMedia") announced today that Robert
Fried, President and CEO of Ideation, Garbo Lee, President of
SearchMedia, Jerry Lin, Senior Vice President of SearchMedia and
Earl Yen, Vice Chairman of SearchMedia, are scheduled to present at
the following upcoming investor conferences:
-- Tuesday, May 19, 2009 at 12:35 p.m. Eastern Time at the Oppenheimer
3rd Annual China Dragon Call Conference in New York City.
-- Wednesday, May 20, 2009 at 9:30 a.m. Pacific Time at the Eighth Annual
JMP Securities Research Conference in San Francisco, CA. A live and
archived webcast of this presentation and a copy of the presentation slides
will be available on the Investor Relations section of the Ideation website
at www.ideationacquisition.com.
About Ideation Acquisition Corp.
Ideation is a publicly traded special purpose acquisition
corporation, or SPAC, formed to acquire one or more businesses with
a focus on the media sector. As of December 31, 2008, Ideation has
in its trust account approximately US$78.8 million (including
deferred underwriting fees of US$2.7 million) from the proceeds
raised through its initial public offering in November 2007 and
interest thereon. As of December 31, 2008, the amount per share
available upon liquidation of the trust was approximately
US$7.8815. Ideation is headquartered in Wilmington, Delaware.
About SearchMedia
SearchMedia is a leading nationwide multi-platform media company
in China. It is one of the largest integrated operators of outdoor
billboard and in-elevator advertising networks in China.
SearchMedia currently owns and operates a network of over 1,500
high-impact billboards with over 500,000 square feet of surface
area and one of China's largest networks of in-elevator
advertisement panels consisting of over 180,000 frames in 59 cities
around China. SearchMedia ranked first in market share of
in-elevator advertising displays in 13 out of the 26 most affluent
cities in China and ranked second in an additional nine of these
cities, according to a leading international research company in
China. Additionally, SearchMedia operates a network of over 1,200
large-format light boxes in concourses of eight major subway lines
in Shanghai. SearchMedia's core outdoor billboard and in-elevator
portfolios, in addition to its subway advertising platform, create
an attractive multi-platform "one-stop shop" service for its local,
national and international advertising clients that numbered more
than 700 cumulatively since its inception.
Forward-Looking Statements
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
as that term is defined by the United States Private Securities
Litigation Reform Act of 1995. Any such forward-looking statements
contained herein are based on current expectations, but are subject
to a number of risks and uncertainties that may cause actual
results to differ materially from expectations such as material
adverse events affecting Ideation and SearchMedia, their ability to
complete a business combination and those other risks and
uncertainties detailed in Ideation's filings with the Securities
and Exchange Commission. Ideation and SearchMedia caution readers
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. Ideation and SearchMedia do
not undertake or accept any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statement
to reflect any change in their expectations or any change in
events, conditions or circumstances on which any such statement is
based.
Participation in Solicitation/Additional Information
In connection with the proposed transaction, Ideation and ID
Arizona Corp. filed a preliminary Proxy Statement/Prospectus with
the Securities and Exchange Commission on March 31, 2009, which is
subject to review by the SEC. A definitive Proxy
Statement/Prospectus will be mailed to Ideation stockholders.
INVESTORS AND SECURITY HOLDERS OF IDEATION ARE URGED TO READ A
DEFINITIVE PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED
WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Investors and security holders will be able to obtain
free copies of the Registration Statement and the definitive Proxy
Statement/Prospectus (when available) and other documents filed
with the SEC by Ideation through the website maintained by the SEC
at www.sec.gov under the registrant names Ideation and "ID Arizona
Corp." Free copies of the Registration Statement and the Proxy
Statement/Prospectus (when available) and other documents filed
with the SEC can also be obtained by directing a request to
Ideation, 1105 N. Market Street, Suite 1300, Wilmington, Delaware
19801.
Ideation, SearchMedia and their respective directors, executive
officers, affiliates and other persons may be deemed to be
participants in the solicitation of proxies in respect of the
proposed transaction. Information regarding Ideation's directors
and executive officers is available in its Annual Report on Form
10-K for the year ended December 31, 2008, which was filed with the
SEC on March 20, 2009, and information regarding SearchMedia's
directors and executive officers is available in Ideation's and ID
Arizona Corp.'s preliminary Proxy Statement/Prospectus, which was
filed with the SEC on March 31, 2009, and can be found on the SEC
website at www.sec.gov under the registrant name "ID Arizona Corp."
Other information regarding the participants in the proxy
solicitation and a description of their direct and indirect
interests, by security holdings or otherwise, will be contained in
the definitive Proxy Statement/Prospectus and other relevant
materials to be filed with the SEC when they become available.
Contact: Devlin Lander ICR (415) 292-6855
Ideation Acq CP Uts (AMEX:IDI.U)
Historical Stock Chart
From May 2024 to Jun 2024
Ideation Acq CP Uts (AMEX:IDI.U)
Historical Stock Chart
From Jun 2023 to Jun 2024