September 8, 2009 (FinancialWire) — GHL acquisition Corp. (NYX: GHQ) has launched an offering of 16 million newly issued shares of its common stock. Raymond James and Associates (NYSE: RJF) will act as bookrunning manager.

The company plans to grant the underwriters an over-allotment option to purchase an additional 2.4 million shares.

GHL acquisition plans to use the net proceeds to fund repurchases of shares of its common stock and exchanges of warrants as well as for general corporate purposes.

New York-based GHL acquisition is a special purpose acquisition company launched in February 2008 in an initial public offering raising $400 million of gross proceeds.

The company, which was founded by Greenhill & Co., was formed for the purpose of acquiring, or acquiring control of, one or more businesses or assets. It currently has no operating businesses.

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