Richard Heckmann, who will soon resign as CEO of K2 Inc. with its sale
to Jarden, has formed a new buyout firm called Heckmann Corp.
The new company intends to sell 62.5 million shares of stock for $8
each, or $500 million, according to a filing with the Securities &
Exchange Commission. But the filing doesn't specify what will happen
with the money.
The SEC filing says only that Heckmann Corp. was formed May 29 “to
acquire or acquire control of one or more operating businesses” and
those efforts “will not be limited to a particular industry.”
Such companies are referred to as “blank-check” IPOs.
Among the members on Heckmann Corp's board are Dan Quayle, former Vice
President and current chairman of global investments for the Wall
Street investment fund Cerberus Capital Management; as well as retired
Notre Dame football coach Lou Holtz; and Alfred Osborne, an associate
dean in the University of California-Los Angeles Anderson School of
Management. All three served on K2's board.
Heckmann, according to the filing, is planning on leaving K2 by August 1.
