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Transforma Acquisition Group Inc. Announces Transfer of Trust Funds into U.S. Treasuries
NEW YORK-(Business Wire)-October 3, 2008 - Transforma Acquisition Group Inc. (AMEX: TAQ, TAQ.U, TAQ.WS) (“Transforma”) announced today that, in light of current market uncertainties, it has transferred 100% of its trust account funds from an institutional money market fund investing in high quality U.S. Dollar-denominated short-term debt securities, primarily obligations of U.S. and non-U.S. financial institutions and commercial paper, into Citi Institutional US Treasury Reserves, a fund that invests all of its assets in U.S. Treasury bills, notes and bonds, Treasury receipts and securities issues by U.S. government agencies and instrumentalities that are backed by the full faith and credit of the U.S. Treasury. The amount held in the trust account remains above the $101.2 million reported as of June 30, 2008.
About Transforma Acquisition Group Inc.
Transforma Acquisition Group Inc. is a blank check company formed for the purpose of acquiring one or more assets or control of one or more operating businesses in the technology, media or telecommunications industries through a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination.
Safe Harbor Statement
This press release contains a forward-looking statement about our prospective initial business combination that is based on our current expectations and is subject to many risks and uncertainties. For example, there can be no assurance that we will be able to negotiate a final definitive acquisition agreement, or that we will be able to satisfy the conditions required to complete our initial business combination by December 26, 2008.
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