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Allen-Vanguard To Receive $100 Million Investment

DDN

Tuesday, January 27th, 2009

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Tailwind Financial, Inc. [TNF], a special purpose acquisition company, has agreed to merge with Canada's troubled Allen-Vanguard Corp. in a deal that will recapitalize and reduce the debt burden of Allen-Vanguard, the companies said yesterday. The merged company will be called Allen Vanguard Corp. and will be listed on the New York Stock Exchange's Alternext U.S. market. Under the transaction Tailwind will use the proceeds of its $100 million initial public stock offering in 2007 to invest in Allen-Vanguard. Allen-Vanguard…

Congress

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