Rhapsody Acquisition Corp. Files Preliminary Proxy and Registration Statement in Connection With Proposed Merget With Primoris Corporation
New York, NY and Lake Forest, CA - April 21, 2008 - Rhapsody Acquisition Corp. (OTCBB: RPSD; RPSDW; RPSDU) ("Rhapsody") announced that today it filed a preliminary proxy and registration statement on Form S-4 with the Securities and Exchange Commission in connection with its proposed merger with privately-held Primoris Corporation ("Primoris"). Primoris, one of the largest specialty contractors and engineering companies in the Western United States, primarily serves the growing power and energy sectors.
Stockholders are advised to read Rhapsody's preliminary proxy statement/prospectus and, when available, definitive proxy statement/prospectus in connection with the solicitation of proxies for the special meeting because these statements will contain important information. The definitive proxy statement/prospectus will be mailed to stockholders as of a record date to be established for voting on the merger. Stockholders will also be able to obtain a copy of the proxy statement/prospectus, without charge, by directing a request to: Rhapsody Acquisition Corp., 825 Third Avenue, 40th Floor, New York, NY 10022. The preliminary proxy statement/prospectus and definitive proxy statement/prospectus, once available, can also be obtained, without charge, at the Securities and Exchange Commission's internet site (http://www.sec.gov).
About Rhapsody Acquisition Corp.
Rhapsody was incorporated in Delaware on April 24, 2006 as a blank check company whose objective is to effect a merger, capital stock exchange, asset acquisition or other similar business combination with an operating business. Rhapsody's initial public offering was declared effective October 3, 2006 and was consummated on October 10, 2006, receiving net proceeds of $38.8 million through the sale of 5.2 million units at $8.00 per unit. Each unit was comprised of one share of Rhapsody common stock and one warrant with an exercise price of $5.00. As of February 29, 2008, Rhapsody held approximately $41.0 million in a trust account maintained by an independent trustee, which will be released upon the consummation of the business combination.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Rhapsody and Primoris. Forward looking statements are statements that are not historical facts, but instead statements based upon the current beliefs and expectations of management of Rhapsody and Primoris. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ from the results included in such forward-looking statements.
This communication shall not constitute an offer to sell or a solicitation of an offer to buy any securities. Furthermore, this communication is not a solicitation of proxies from the holders of Rhapsody's common stock. Any solicitation of proxies will be made only by Rhapsody's definitive proxy statement that will be mailed to all stockholders of record when available.
Rhapsody Acquisition Corp.
Eric S. Rosenfeld
Chairman & CEO