Goldman Sachs in its First “Blank Check” Initial Public Offering

March 25, 2008

Cleary Gottlieb is representing Goldman, Sachs & Co. as underwriter in Liberty Lane Acquisition Corp.’s initial public offering, which is expected to raise $350 million. This transaction is Goldman’s first “Blank Check” IPO and makes significant changes to the typical structure of such offerings. The IPO filed on March 25.

Liberty Lane Acquisition Corp. is a blank check company (also called a special purpose acquisition company,) recently formed to acquire one or more operating businesses through a merger, stock exchange, asset acquisition, reorganization or similar business combination.