Equus Total Return, Inc. Announces Investment Commitment of Up to $5 Million in HealthSPAC, LLC
December 12 2006 - 5:17PM
PR Newswire (US)
HOUSTON, Dec. 12 /PRNewswire-FirstCall/ -- Equus Total Return, Inc.
(NYSE:EQS) ("Equus" or the "Fund") announces an investment
commitment of up to $5,000,000 in HealthSPAC, LLC ("HealthSPAC"), a
Delaware limited liability company. HealthSPAC is a
California-based company in the business of incubating Special
Purpose Acquisition Companies ("SPACs") focused on healthcare
opportunities. It will identify specific industry opportunities
within the healthcare sector that can thrive under a SPAC financing
model, with an emphasis on cash generation and opportunity for
growth. The management team, led by Executive Chairman Stuart
Bruck, has over eighty years of combined experience in the
healthcare and life sciences industry. Sam Douglass and Ken Denos
of Equus will serve on the HealthSPAC Board of Directors.
"HealthSPAC represents our ongoing effort to target investments
indicative of our twenty-first century trends strategy. The
healthcare sector provides products and services that impact all
generations. We are excited to be on the leading edge of SPAC
initiatives within this dynamic arena," commented Anthony R. Moore,
Co-Chairman, CEO and President of the Fund. "We envision that each
of the SPACs launched by HealthSPAC will be in multi-billion dollar
sub-sectors of healthcare, with the potential for strong annual
growth well into the future and will be ripe for consolidation on a
domestic and international basis. We intend that the first such
SPAC may be in the international pharmaceutical services sector,"
said Stuart Bruck, Executive Chairman of HealthSPAC. Equus is a
business development company that trades as a closed-end fund on
the New York Stock Exchange, under the symbol "EQS". Additional
information on Equus may be obtained from the website at
http://www.equuscap.com/ . This press release may contain certain
forward-looking statements regarding future circumstances. These
forward-looking statements are based upon the Company's current
expectations and assumptions and are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements
including, in particular, the risks and uncertainties described in
the Company's filings with the Securities and Exchange Commission.
Actual results, events, and performance may differ. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as to the date hereof. The Company
undertakes no obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material. CONTACT: Brett Chiles (713) 529-0900
DATASOURCE: Equus Total Return, Inc. CONTACT: Brett Chiles of Equus
Total Return, Inc., +1-713-529-0900 Web site:
http://www.equuscap.com/
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