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Apple Alums’ IPO Rises 12%

Shares of Newport Beach-based Acquicor Technology Inc. rose 12% from the company’s offering price in its first day of trading Wednesday.

Acquicor closed at $6.72 Wednesday, after the company raised $150 million in its initial public offering a day earlier. The company’s shares were priced at $6 in the offering. The first trade was at $6.80.

Acquicor is Orange County’s first initial public offering of the year.

Three former Apple Computer Inc. executives,cofounder Steve Wozniak, former chief executive Gilbert Amelio and Ellen Hancock, Apple’s technology chief under Amelio, founded Acquicor last year.

Acquicor is a “blank check company,” or one that was created for the sole purpose of finding another company to acquire. Acquicor is looking to buy a technology company.

The company sold 25 million units to investors in the offering. Each unit included one Acquicor share and two warrants, which give investors the right to buy shares at $5 apiece. Investors can exercise their warrants when Acquicor makes an acquisition or in 2007, if a buy hasn’t been made.

Acquicor trades on the American Stock Exchange under the symbol “AQR.U.” Its market value is about $170 million.

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