**UNITED        STATES**

**SECURITIES        AND EXCHANGE COMMISSION**

**Washington,        D.C. 20549**

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**FORM 10-K**

| **(Mark                  One)**                                  |                                                                                                                                     |
|------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|
|                                                             |                                                                                                                                     |
| **x**                                                            | **ANNUAL                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                  EXCHANGE ACT OF 1934**     |
|                                                             |
| **For                  the fiscal year ended December 31, 2007** |
|                                                             |
| **or**                                                           |
|                                                             |
| **o**                                                            | **TRANSITION                  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES                  EXCHANGE ACT OF 1934** |

**For        the transition period from _________ to _________**

**Commission        file number 001-33541**

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**Aldabra        2 Acquisition Corp.**

| **Delaware**                                     |   | **20-8356960**                       |
|--------------------------------------------------|--------|--------------------------------------|
| (State                  or other jurisdiction of |   | (I.R.S.                  Employer    |
| incorporation                  or organization)  |   | Identification                  No.) |

| **c/o                  Terrapin Partners LLC, 540 Madison Avenue, 17th Floor,****New                  York, New York** |   |  **10022**             |
|------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|
| (Address                  of principal executive offices)                                                              |   | (Zip                  code) |

**(212) 710-4100f**

| **Title of each class**                    |   | **Name of each                  exchange on which registered** |
|-----------------------------------------------------------|--------|-----------------------------------------------------------------------------------------|
| Common                  stock, par value $.0001 per share |   | American                  Stock Exchange                                                |

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| Large                  accelerated filer   o |   | Accelerated                  filer   o |   | Non-accelerated                  filer   x |
|-------------------------------------------------------------|--------|-------------------------------------------------------|--------|-----------------------------------------------------------|

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**ALDABRA        2 ACQUISITION CORP.**

**INDEX**
 

|                        |                                                                                                                                                     | Page   |
|-----------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **PART I**             |                                                                                                                                                     | **2**  |
| ITEM                    1   | BUSINESS                                                                                                                                                 |   | 2 |
| ITEM                    1A. | RISK                    FACTORS                                                                                                                          |   | 7 |
| ITEM                    1B. | UNRESOLVED                    STAFF COMMENTS                                                                                                             |   | 25 |
| ITEM                    2.  | PROPERTIES                                                                                                                                               |   | 25 |
| ITEM 3.                | LEGAL                    PROCEEDINGS                                                                                                                     |   | 25 |
| ITEM 4.                | SUBMISSION                    OF MATTERS TO A VOTE OF SECURITY HOLDERS                                                                                   |   | 26 |
|                        |                                                                                                                                                     |   |   |
| **PART II**            |                                                                                                                                                     | **27** |
| ITEM 5.                | MARKET                    FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER                    PURCHASES OF EQUITY SECURITIES |   | 27 |
| ITEM 6.                | SELECTED                    FINANCIAL DATA                                                                                                               |   | 28 |
| ITEM 7.                | MANAGEMENT’S                    DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF                    OPERATION                         |   | 29 |
| ITEM 7A.               | QUANTITATIVE                    AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                                                            |   | 33 |
| ITEM 8.                | FINANCIAL                    STATEMENTS AND SUPPLEMENTARY DATA                                                                                           |   | 33 |
| ITEM 9.                | CHANGES                    IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL                    DISCLOSURE                               |   | 53 |
| ITEM 9A.               | CONTROLS                    AND PROCEDURES                                                                                                               |   | 53 |
| ITEM 9B.               | OTHER                    INFORMATION                                                                                                                     |   | 54 |
|                        |                                                                                                                                                     |   |   |
| **PART III**           |                                                                                                                                                     | **55** |
| ITEM 10.               | DIRECTORS,                    EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE                                                                                |   | 55 |
| ITEM 11.               | EXECUTIVE                    COMPENSATION                                                                                                                |   | 60 |
| ITEM 12.               | SECURITY                    OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED                    STOCKHOLDER MATTERS                     |   | 61 |
| ITEM 13.               | CERTAIN                    RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR                    INDEPENDENCE                                           |   | 63 |
| ITEM 14.               | PRINCIPAL                    ACCOUNTING FEES AND SERVICES                                                                                                |   | 67 |
|                        |                                                                                                                                                     |   |   |
| **PART IV**            |                                                                                                                                                     | **68** |
| ITEM 15.               | EXHIBITS,                    FINANCIAL STATEMENT SCHEDULES                                                                                               |   | 68 |

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**PART I**

**ITEM        1.**
**B**
**USINESS.**** **

**Overview**

|   | · | *Substantial                  Capital Has Been Invested by Private Equity Firms in Recent Years.*According                  to Standard & Poor’s Leveraged Buyout Review, U.S. leveraged buyout                  volumes have increased from $40.5 billion in 2000 to $521.8 billion                  for                  the twelve months ended December 31, 2007, a compound annual growth                  rate                  of 41.1%. Furthermore, according to Venture Source Analytics, $444.4                  billion of venture capital was raised by private companies from                  2000                  through the first half of 2007. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | *Private                  Equity Firms Have an Ongoing Need for Investment Realizations.*Because                  most private equity funds are limited life investment vehicles,                  they                  continuously seek liquidity events for their portfolio                  companies. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | *Higher                  Levels of Leverage Used to Fund Leveraged Buyouts Increase the                  Need                  to Divest Non-Core Assets.*According                  to Standard & Poor’s Leveraged Buyout Review, the average debt to                  EBITDA (adjusted for prospective cost savings or synergies) multiples                  of                  leveraged buyout loans for issuers with more than $50 million of                  EBITDA                  has increased from 4.2x in 2000 to 5.4x in 2006 and 6.3x in the                  first                  three quarters of 2007. Given the higher debt levels, private equity                  firms                  have been encouraged to quickly sell non-core assets, which we                  believe                  created attractive acquisition targets for us. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | *Changing                  Socio-Economics and Demographics.*We                  have focused on portfolio companies that are well positioned to                  capitalize                  on certain emerging socioeconomic and demographic trends. While                  many                  socioeconomic and demographic trends have been well researched                  and                  documented, such as the aging of the population and the growing                  ethnic                  base of specific minorities, we believe that few companies have                  actually                  altered their strategy to specifically prepare for such                  trends. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | *Intellectual                  Property, Proprietary Business Practices and/or Other Intangible                  Assets.*We                  have focused on companies that have potentially underexploited                  or not                  fully-developed intellectual property, proprietary business practices                  and/or other intangible assets. Such businesses generally have                  fewer                  tangible assets and are generally more dependent on the implementation                  of                  technology. We have believed that such companies can be acquired                  for                  attractive valuations. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Recent        Developments**

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**Conversion          Rights **

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**Liquidation        If No Business Combination**

**Competition        **

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|   | · | Aldabra’s                  obligation to seek stockholder approval of a business combination                  may                  delay the completion of a transaction; and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Aldabra’s                  obligation to convert into cash shares of common stock held by                  its public                  stockholders that both vote against the business combination and                  contemporaneously exercise their conversion rights may reduce the                  resources available to Aldabra for a business                  combination. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Available        Information**

*http://www.sec.gov*
*.*

*http://aldabracorp2.com*
*.*

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**ITEM        1A. R**
**ISK        FACTORS.**

**Risks        Associated with the Acquisition**

***If        the Acquisition’s benefits do not meet the expectations of the marketplace,        investors, financial analysts or industry analysts, the market price of        Aldabra’s common stock may decline.***

***Stock        ownership of Aldabra after the Acquisition will be highly concentrated, and        as a        result, Boise Cascade, L.L.C. will influence Aldabra’s affairs        significantly.***

----

***If        we are unable to consummate a business combination within the prescribed        time        frame and are forced to dissolve and distribute our assets, the amount that        holders could receive per IPO Share upon the distribution of trust account        fund        could decrease, and our warrants will expire        worthless.***

----

***If        we lose our key management and technical personnel, our business may        suffer.***

***Members        of Aldabra’s board of directors have interests in the Acquisition that are        different from the interests of Aldabra’s common stockholders. If the        Acquisition is not approved, there is a possibility that their shares could        become worthless.***

***Because        approximately 30% of Aldabra’s stockholders exercised their right to convert        their shares into cash, Aldabra’s current stockholders will end up owning        approximately 51% of Boise Inc.’s shares, and Boise Inc. will incur additional        indebtedness.***

----

***The        expected amount of post-Acquisition indebtedness could adversely affect        Aldabra’s financial condition and impair its ability to operate Boise        Inc.***

|   | · | It                  may limit our ability to borrow money or sell stock to fund our                  working                  capital, capital expenditures, acquisitions, debt service requirements                  and                  other financing needs; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Our                  interest expense would increase if interest rates generally rise                  because a                  substantial portion of our indebtedness, including all of our indebtedness                  under our new credit facilities, bears interest at floating                  rates; |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | It                  may limit our flexibility in planning for, or reacting to, changes                  in our                  business and future business                  opportunities; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | We                  will be subject to debt covenants that may restrict management’s ability                  to make certain business decisions; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Boise                  Inc. may be more highly leveraged than some of its competitors,                  which may                  place it at a competitive                  disadvantage; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | It                  may make us more vulnerable to a downturn in our business, our                  industry or                  the economy in general; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | A                  substantial portion of Boise Inc.’s cash flow from operations may be                  dedicated to the repayment of indebtedness, including indebtedness                  we may                  incur in the future, and will not be available for other business                  purposes; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | There                  would be a material adverse effect on our business and financial                  condition                  if we were unable to service our indebtedness or obtain additional                  financing as needed. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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***Boise        Inc.’s operations may not be able to generate sufficient cash flows to meet        Aldabra’s debt service obligations.***

***A        default under Aldabra’s indebtedness may have a material adverse effect on its        business and financial condition.***

----

***Aldabra’s        loan commitments could expire before Aldabra is able to consummate the        Acquisition.***

***Servicing        debt could limit funds available for other purposes.***

***Though        finalized, the terms of Aldabra’s new credit facilities are subject to market        risk.***

----

***Aldabra’s        new credit facilities will contain restrictive covenants that will limit        Aldabra’s overall liquidity and corporate activities.***

|   | · | create                  additional liens on our assets; |
|--------|--------|---------------------------------------------------------|

|   | · | make                  investments or acquisitions; |
|--------|--------|----------------------------------------------------|

|   | · | pay                  dividends; |
|--------|--------|---------------------------------|

|   | · | incur                  additional indebtedness or enter into sale/leaseback                  transactions; |
|--------|--------|------------------------------------------------------------------------------------------------------------|

|   | · | sell                  assets, including capital stock of                  subsidiaries; |
|--------|--------|-----------------------------------------------------------------------------------------|

|   | · | enable                  our subsidiaries to make                  distributions; |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | enter                  into transactions with our                  affiliates; |
|--------|--------|--------------------------------------------------------------------------------|

|   | · | enter                  into new lines of business; and |
|--------|--------|--------------------------------------------------------|

|   | · | engage                  in consolidations, mergers or sales of substantially all of our                  assets. |
|--------|--------|------------------------------------------------------------------------------------------------------------------|

|   | · | limit                  our ability to plan for, or react to, market conditions or meet                  capital                  needs or otherwise restrict our activities or business plans;                  and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | adversely                  affect our ability to finance our operations, strategic acquisitions,                  investments, alliances and other capital needs, or to engage in                  other                  business activities that would be in our best                  interest. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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***The        consideration to be paid as part of the Acquisition is subject to change,        and        the exact consideration is not determinable at this        time.***

***Registration        rights held by the Seller and certain Aldabra stockholders may have an adverse        effect on the market price of Aldabra’s common stock.***

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***Delaware        law and the proposed amended and restated charter documents may impede or        discourage a takeover that Aldabra’s stockholders may consider        favorable.***

|   | · | limitations                  on the ability of stockholders to amend our charter documents,                  including                  stockholder supermajority voting                  requirements; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the                  inability of stockholders to act by written consent or to call                  special                  meetings after such time the Seller owns less than 25% of the voting                  power                  of our common stock entitled to vote generally in the election                  of                  directors; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | a                  classified board of directors with staggered three-year terms;                  and |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | the                  authority of our board of directors to issue, without stockholder                  approval, up to 1,000,000 shares of preferred stock with such terms                  as the board of directors may determine and to issue additional                  shares of                  our common stock. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

***Stockholders        of Aldabra may not receive dividends because of restrictions in the new credit        facilities, Delaware law and state regulatory        requirements.***

----

***The        post-Acquisition business may incur increased costs as a result of having        publicly-traded equity securities.***

***If        third parties bring claims against us, the proceeds held in trust may be        reduced, and the per share liquidation price per IPO Share received by holders        could decrease.***

----

----

***If        Aldabra fails to maintain effective systems for disclosure and internal controls        over financial reporting as a result of the Acquisition, it may be unable        to        comply with the requirements of Section 404 of the Sarbanes Oxley Act in        a        timely manner.***

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**Risks      Related to BPP’s Business**

***The      paper industry is cyclical. Fluctuations in the prices of and the demand for      BPP’s products could result in smaller profit margins and lower sales      volumes.***

----

***BPP      faces strong competition in its markets.***

***BPP’s      manufacturing businesses may have difficulty obtaining logs and fiber at      favorable prices or at all.***

----

***Further      increases in the cost of BPP’s purchased energy or chemicals would lead to      higher manufacturing costs, thereby reducing its      margins.***

----

***Some      of BPP’s paper products are vulnerable to long-term declines in demand due to      competing technologies or materials.***

***A      material disruption at one of BPP’s manufacturing facilities could prevent it      from meeting customer demand, reduce its sales, and/or negatively impact its      net      income.***

|   | · | maintenance                outages; |
|--------|--------|-------------------------------------|

|   | · | prolonged                power failures; |
|--------|--------|------------------------------------------|

|   | · | an                equipment failure; |
|--------|--------|--------------------------------------|

|   | · | disruption                in the supply of raw materials, such as wood fiber, energy or chemicals; |
|--------|--------|----------------------------------------------------------------------------------------------------|

|   | · | a                chemical spill or release; |
|--------|--------|---------------------------------------------|

|   | · | closure                because of environmental-related                concerns; |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | explosion                of a boiler; |
|--------|--------|---------------------------------------|

|   | · | the                effect of a drought or reduced rainfall on BPP’s water                supply; |
|--------|--------|--------------------------------------------------------------------------------------------------------|

|   | · | disruptions                in the transportation infrastructure, including roads, bridges, railroad                tracks, and tunnels; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | · | fires,                floods, earthquakes, hurricanes, or other                catastrophes; |
|--------|--------|----------------------------------------------------------------------------------------------|

|   | · | terrorism                or threats of terrorism; |
|--------|--------|---------------------------------------------------|

|   | · | labor                difficulties; or |
|--------|--------|---------------------------------------|

|   | · | other                operational problems. |
|--------|--------|--------------------------------------------|

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***BPP’s        operations require substantial capital, and it may not have adequate capital        resources to provide for all of its capital        requirements.***

***BPP’s        operations are affected by its relationship with OfficeMax Incorporated        (“OfficeMax”).***

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***BPP      is subject to significant environmental regulation and environmental compliance      expenditures, as well as other potential environmental      liabilities.***

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***Labor      disruptions or increased labor costs could adversely affect BPP’s      business.***

**ITEM      1B. **
**UNRESOLVED      STAFF COMMENTS.**

**ITEM      2.**
**PROPERTIES.**
** **

**ITEM 3.**
**LEGAL      PROCEEDINGS.**

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**ITEM 4.**
**SUBMISSION      OF MATTERS TO A VOTE OF SECURITY HOLDERS.**

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**PART II**

**ITEM 5.**
**MARKET      FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDE**
**R      MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.**

**(a)**
**Market      Information **

|                                             | ** ** | Common                Stock |   | Units                 |       | Warrants               |   |
|--------------------------------------------------|------------|-----------------------------|--------|-----------------------|------------|------------------------|--------|
|                                             |       | High                        |   | Low                   |       | High                   |   | Low |   | High |   | Low |   |
| 2007:                                            |       |                        |   |                  |       |                   |   |   |   |   |   |   |   |
| June                28—June 30             |       | $                9.15       |   | $                9.15 |       | $                10.55 |   | $                10.44 |   | $                1.35 |   | $                1.32 |   |
| July                1—September 30, 2007   |       | $                9.30       |   | $                8.98 |       | $                10.95 |   | $                10.00 |   | $                1.50 |   | $                1.04 |   |
| October                1—December 31, 2007 |       | $                9.87       |   | $                9.21 |       | $                13.00 |   | $                10.64 |   | $                3.23 |   | $                1.45 |   |
| 2008:                                            |       |                        |   |                  |       |                   |   |   |   |   |   |   |   |
| January                l—February 8, 2008  |       | $                9.70       |   | $                9.45 | ** ** | $                12.96 |   | $                11.65 |   | $                3.20 |   | $                2.20 |   |

**(b)**
**Holders      **

**(c)**
**Dividends      **

----

**(d)**
**Securities      Authorized for Issuance Under Equity Compensation Plans**

**ITEM 6.**
**SELECTED      FINANCIAL DATA.**

| **Statement              of Operations              Data:** |   | **February                1,****2007****(inception)****through****December                31,****2007** |       |
|-------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------|------------|
| Interest              income                                |   | $                                                                                                       | 10,421,536 |   |
| Expenses                                                    |   |                                                                                                    | (399,347   | )  |
| Net              income before income taxes                 |   |                                                                                                    | 10,082,189 |   |
| Provision              for income taxes                     |   |                                                                                                    | (4,590,167 | ) |
| Net              income                                     |   | $                                                                                                       | 5,492,022  |   |
| Net              income per share basic and diluted         |   | $                                                                                                       | 0.16       |   |
| Weighted              average shares outstanding            |   |                                                                                                    | 34,272,754 |   |

| **Balance              Sheet Data: **                |   | **As                of ****December                31,****200****7** |        |
|-----------------------------------------------------------|--------|---------------------------------------------------------------------------|-------------|
| Working              capital                              |   | $                                                                         | 389,518,466 |   |
| Total              assets                                 |   |                                                                      | 407,612,333 |   |
| Total              liabilities                            |   |                                                                      | 14,715,486  |   |
| Common              stock, subject to possible conversion |   |                                                                      | 159,760,000 |   |
| Stockholders’equity                                 |   | $                                                                         | 233,136,847 |   |

----

**ITEM 7.**
**MANAGEMENT’S      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AN**
**D      RESULTS OF OPERATION.**** **

***Forward-Looking      Information and Factors That May Affect Future      Results***

----

***Overview***

***Results      of Operations***

***Liquidity      and Capital Resources***

----

----

|   | · | a                $250 million senior secured first lien revolving credit facility                and a                $250 million senior secured first lien Tranche A term loan facility                priced                at LIBOR plus 325 basis points, with a term of five years and a closing                fee of approximately 2%; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | a                $475 million senior secured first lien Tranche B term loan facility                priced                at LIBOR (with a floor of 4.00%) plus 350 basis points, with a term                of six                years and a closing fee of 5%; and |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | a                $260.7 million senior secured second lien term loan facility priced                at                LIBOR (with a floor of 5.5%) plus 700 basis points, with a term of                seven                years and a closing fee of 10%. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Off-Balance      Sheet Arrangements**

----

**Recently      Issued Accounting Pronouncements**

**ITEM 7A. **
**QUANTITATIVE      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.**

**ITEM 8.**
**FINANCIAL      STATEMENTS AND SUPPLEMENTARY DATA.**

**INDEX      TO CONSOLIDATED FINANCIAL STATEMENTS**

| **REPORT**                                                                                                                     |   | **PAGE** |   |
|--------------------------------------------------------------------------------------------------------------------------------|--------|----------|--------|
|                                                                                                                           |   |     |   |   |
| REPORT                OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                                                         |   |     | 34     |   |
|                                                                                                                           |   |     |   |   |
|  CONSOLIDATED              BALANCE SHEET                                                                                  |   |     | 35     |   |
|                                                                                                                           |   |     |   |   |
| CONSOLIDATED                STATEMENT OF INCOME FOR THE FISCAL YEAR ENDED DECEMBER 31,                2007                     |   |     | 36     |   |
|                                                                                                                           |   |     |   |   |
| CONSOLIDATED                STATEMENT OF STOCKHOLDERS’ EQUITY FOR THE FISCAL YEAR ENDED DECEMBER 31,                2007 |   |     | 37     |   |
|                                                                                                                           |   |     |   |   |
| CONSOLIDATED                STATEMENT OF CASH FLOWS FOR THE FISCAL YEAR ENDED DECEMBER 31,                2007                 |   |     | 38     |   |
|                                                                                                                           |   |     |   |   |
| NOTES                TO CONSOLIDATED FINANCIAL STATEMENTS                                                                      |   |     | 39     |   |

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**Report      of Independent Registered Public Accounting Firm**

----

**Part      I: Financial Information**

**Item      1 - Financial Statements**

**Aldabra      2 Acquisition Corp.**

**(a      corporation in the development stage)**

**Consolidated      Balance Sheet**

|                                                                                                                                         |   | December                31, 2007 |        |
|-----------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|-------------|
| **ASSETS**                                                                                                                              |   |                             |        |
| Current                assets:                                                                                                          |   |                             |        |
| Cash                                                                                                                                    |   | $                                | 185,691     |   |
| Cash                held in trust                                                                                                       |   |                             | 403,989,389 |   |
| Prepaid                expenses                                                                                                         |   |                             | 58,872      |   |
| Total                current assets                                                                                                     |   |                             | 404,233,952 |   |
| Capitalized                acquisition costs                                                                                            |   |                             | 3,293,350   |   |
| Deferred                tax asset                                                                                                       |   |                             | 85,031      |   |
|                                                                                                                                    |   |                             |        |   |
| **Total                assets**                                                                                                         |   | $                                | 407,612,333 |   |
|                                                                                                                                    |   |                             |        |   |
| **LIABILITIES                AND STOCKHOLDERS’ EQUITY**                                                                           |   |                             |        |   |
| Current                liabilities:                                                                                                     |   |                             |        |   |
| Accrued                expenses                                                                                                         |   | $                                | 926,623     |   |
| Franchise                tax payable                                                                                                    |   |                             | 88,665      |   |
| Income                and capital taxes payable                                                                                         |   |                             | 1,280,198   |   |
| Deferred                underwriting fee                                                                                                |   |                             | 12,420,000  |   |
| **Total                current liabilities**                                                                                            |   |                             | 14,715,486  |   |
|                                                                                                                                    |   |                             |        |   |
| **COMMON                STOCK SUBJECT TO POSSIBLE CONVERSION**                                                                          |   |                             |        |   |
| (16,555,860                - shares at conversion value)                                                                                |   |                             | 159,760,000 |   |
|                                                                                                                                    |   |                             |        |   |
| Commitments                                                                                                                             |   |                             |        |   |
|                                                                                                                                    |   |                             |        |   |
| Stockholders’                equity                                                                                               |   |                             |        |   |
| Preferred                stock, $.0001 par value, authorized                                                                            |   |                             |        |   |
| 1,000,000                shares; none issued                                                                                            |   |                             | -           |   |
| Common                stock, $.0001 par value,                                                                                          |   |                             |        |   |
| authorized                100,000,000 shares,                                                                                           |   |                             |        |   |
| issued                and outstanding 51,750,000 shares(which                includes 16,555,860 shares subject to possible conversion) |   |                             | 5,175       |   |
| Additional                paid-in capital                                                                                               |   |                             | 227,639,650 |   |
| Income                accumulated during development stage                                                                              |   |                             | 5,492,022   |   |
| **Total                stockholders’ equity**                                                                                     |   |                             | 233,136,847 |   |
|                                                                                                                                    |   |                             |        |   |
| **Total                liabilities and stockholders’ equity**                                                                     |   | $                                | 407,612,333 |   |

*See        notes to Financial Statements.*

----

**Aldabra            2 Acquisition Corp.**

**(a            corporation in the development stage)**

**Consolidated            Statement of Income**

|                                                                  |   | For                the periodFebruary                1, 2007(inception)                to December 31, 2007 |       |
|-----------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------|------------|
|                                                                  |   |                                                                                                        |       |
| Interest                income                                        |   | $                                                                                                           | 10,421,536 |   |
|                                                                  |   |                                                                                                        |       |   |
| **EXPENSES**                                                          |   |                                                                                                        |       |   |
| Formation                costs                                        |   |                                                                                                        | 1,000      |   |
| Professional                fees                                      |   |                                                                                                        | 138,912    |   |
| Insurance                expense                                      |   |                                                                                                        | 42,763     |   |
| Administrative                fees                                    |   |                                                                                                        | 48,000     |   |
| Travel                and entertainment                               |   |                                                                                                        | 9,423      |   |
| Franchise                tax expense                                  |   |                                                                                                        | 88,665     |   |
| Interest                expense                                       |   |                                                                                                        | 5,790      |   |
| Miscellaneous                expenses                                 |   |                                                                                                        | 4,794      |   |
|                                                                  |   |                                                                                                        |       |   |
| Total                expenses                                         |   |                                                                                                        | 339,347    |   |
|                                                                  |   |                                                                                                        |       |   |
| Net                income before income taxes                         |   |                                                                                                        | 10,082,189 |   |
|                                                                  |   |                                                                                                        |       |   |
| Provision                for income taxes                             |   |                                                                                                        | (4,590,167 | ) |
|                                                                  |   |                                                                                                        |       |   |
| Net                income                                             |   | $                                                                                                           | 5,492,022  |   |
|                                                                  |   |                                                                                                        |       |   |
| Weighted                average shares outstanding, basic and diluted |   |                                                                                                        | 34,272,754 |   |
|                                                                  |   |                                                                                                        |       |   |
| Basic                and diluted net income per share                 |   | $                                                                                                           | 0.16       |   |

*See        notes to Financial Statements.*

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Consolidated        Statement of Stockholders’ Equity**

|                                                                                                                                                                                                                                    |   | Common                  Stock |       | Additional                  paid-in |   | Income                  accumulated during development |   | Total                  stockholders’ |         |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|------------|-------------------------------------|--------|--------------------------------------------------------|--------|--------------------------------------------|--------------|
|                                                                                                                                                                                                                                    |   | Shares                        |       | Amount                              |   | capital                                                |   | stage                                      |         | equity |   |
| Issuance                  of common stock to initial stockholders on February 1,2007 at $.002                  per                  share                                                                                               |   |                          | 10,350,000 |                                | $      | 1,035                                                  |   | $                                          | 23,965       |   | $ | - |   | $ | 25,000 |   |
| Proceeds                  from issuance of                  warrants                                                                                                                                                                    |   |                          | -          |                                |   | -                                                      |   |                                       | 3,000,000    |   |   | - |   |   | 3,000,000 |   |
| Sale                  of 41,400,000 Units through public offering net of underwriter’s discount                  and offering expenses (which includes 16,555,860 shares subject                  to                  conversion) |   |                          | 41,400,000 |                                |   | 4,140                                                  |   |                                       | 384,375,685  |   |   | - |   |   | 384,379,825 |   |
| Less                  16,555,860 shares of common stock subject to possible                  conversion                                                                                                                                 |   |                          | -          |                                |   | -                                                      |   |                                       | (159,760,000 | ) |   | - |   |   | (159,760,000 | ) |
| Net                  Income                                                                                                                                                                                                             |   |                          | -          |                                |   | -                                                      |   |                                       |         |   |   | 5,492,022 |   |   | 5,492,022 |   |
|  Balance,                  December 31, 2007                                                                                                                                                                                       |   |                          | 51,750,000 |                                | $      | 5,175                                                  |   | $                                          | 227,639,650  |   | $ | 5,492,022 |   | $ | 233,136,847 |   |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Consolidated        Statement of Cash Flows**

|                                                                                                                  |   | For                    the period   |         |
|-----------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------|--------------|
|                                                                                                                  |   | February                    1, 2007 |         |
|                                                                                                                  |   | (inception)                    to   |         |
|                                                                                                                  |   | December                    31,     |         |
|                                                                                                                  |   | 2007                                |         |
|                                                                                                                  |   |                                |         |
|                                                                                                                  |   |                                |         |
| Cash                    Flows from Operating Activities                                                               |   |                                |         |
| Net                    income                                                                                         |   | $                                   | 5,492,022    |   |
| Adjustments                    to reconcile net income with net cash used in operating                    activities: |   |                                |         |   |
| Interest                    income on investments held in trust                                                       |   |                                | (10,414,388  | ) |
| Change                    in operating assets and liabilities:                                                        |   |                                |         |   |
| Increase                    in prepaid expenses                                                                       |   |                                | (58,872      | ) |
| Increase                    in accrued expenses                                                                       |   |                                | 257,689      |   |
| Increase                    in deferred tax asset                                                                     |   |                                | (85,031      | ) |
| Increase                    in franchise tax payable                                                                  |   |                                | 88,665       |   |
| Increase                    in income and capital taxes payable                                                       |   |                                | 1,280,198    |   |
| Net                    cash used in operating activities                                                              |   |                                | (3,439,717   | ) |
| *Cash                    used in investing activities*                                                                |   |                                |         |   |
| Cash                    deposited in trust                                                                            |   |                                | (399,500,000 | ) |
| Proceeds                    from trust                                                                                |   |                                | 5,925,000    |   |
| Payment                    of acquisition costs                                                                       |   |                                | (2,624,416   | ) |
| Net                    cash used in investing activities                                                              |   |                                | (396,199,416 | ) |
| *Cash                    Flows from Financing Activities*                                                             |   |                                |         |   |
| Proceeds                    from sale of shares of common stock to                                                    |   |                                |         |   |
| Initial                    Stockholders                                                                               |   |                                | 25,000       |   |
| Proceeds                    from notes payable to Initial Stockholders                                                |   |                                | 137,000      |   |
| Payment                    of notes payable to Initial Stockholders                                                   |   |                                | (137,000     | ) |
| Proceeds                    from public offering                                                                      |   |                                | 414,000,000  |   |
| Proceeds                    from issuance of insider warrants                                                         |   |                                | 3,000,000    |   |
| Payment                    of costs associated with Offering                                                          |   |                                | (17,200,176  | ) |
|                                                                                                                  |   |                                |         |   |
| Net                    cash provided by financing activities                                                          |   |                                | 399,824,824  |   |
|                                                                                                                  |   |                                |         |   |
| Net                    increase in cash                                                                               |   |                                | 185,691      |   |
| Cash                    at beginning of the period                                                                    |   |                                | -            |   |
| Cash                    at end of the period                                                                          |   | $                                   | 185,691      |   |
|                                                                                                                  |   |                                |         |   |
| Supplemental                    disclosure of non-cash investing and financing activities                             |   |                                |         |   |

| Accrual                      of deferred underwriting fee |   | $ | 12,420,000 |   |
|-----------------------------------------------------------|--------|---|------------|--------|
| Accrual                      of acquisition costs         |   | $ | 668,934    |   |

| *See                    notes to Financial Statements.* |
|---------------------------------------------------------|

----

**Aldabra      2 Acquisition Corp.**

**(a      corporation in the development stage)**

**Notes      to Consolidated Financial Statements**

|   |                                                          |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------|---------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **1.** | **Organization                and****Business****Operations** |   | Aldabra                2 Acquisition Corp., a corporation in the development stage, was                incorporated in Delaware on February 1, 2007 for the purpose of effecting                a merger, capital stock exchange, asset acquisition or other similar                business combination with an operating business. The consolidated                financial statements include the accounts of Aldabra 2 Acquisition                Corp.                and its wholly owned subsidiary, Aldabra Sub LLC (together, the                “Company”). All intercompany transactions and balances have been                eliminated. The Company is considered to be in the development stage,                as                defined in Statement of Financial Accounting Standards No. 7, “Accounting                and Reporting by Development Stage Enterprises,” and is subject to the                risks associated with activities of development stage companies.                 The                registration statement for the Company’s initial public offering (the                “Offering”) was declared effective June 19, 2007. The Company consummated                the Offering on June 22, 2007 and received net proceeds of approximately                $384,380,000. The Company’s management had broad discretion with respect                to the specific application of the net proceeds of this Offering,                although                substantially all of the net proceeds of this Offering were intended                to be                generally applied toward consummating a business combination with                an                operating business (the “Business Combination”). As described in Note 3,                the Company has entered into a Purchase Agreement with Boise White                Paper,                L.L.C., Boise Packaging & Newsprint, L.L.C., Boise Cascade                Transportation Holdings Corp. (collectively, the “Paper Group”) Boise                Cascade, L.L.C. (the “Seller”) and Boise Paper Holdings, L.L.C. (the                “Target”). The Company’s stockholders approved the transaction February 5,                2008, and the closing is expected to take place on February 22,                2008. |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
|--------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | Upon                the closing of the Offering, an aggregate of $399,500,000, including                the                $3,000,000 proceeds of the private placement (the “Private Placement”)                described in Note 2 and the $12,420,000 of deferred underwriters                discounts                described in Note 2, was placed in a trust account (the “Trust Account”),                which was required to be invested in United States “government securities”                within the meaning of Section 2(a)(16) of the Investment Company                Act of                1940, having a maturity of 180 days or less or in money market funds                meeting certain conditions under Rule 2a-7 promulgated under the                Investment Company Act of 1940 until the earlier of (i) the consummation                of the Company’s first Business Combination and (ii) liquidation of the                Company. The placing of funds in the Trust Account may not protect                those                funds from third-party claims against the Company. Although the Company                sought to have all vendors and service providers (which included                any third                parties we engaged to assist us in any way in connection with our                search                for a target business) and prospective target businesses execute                agreements with the Company waiving any right, title, interest or                claim of                any kind in or to any monies held in the Trust Account, there is                no                guarantee that, even though such entities executed such agreements                with                us, they will not seek recourse or that a court would not conclude                that                such agreements are not legally enforceable. The Company’s Chairman of the                Board and the Company’s Chief Executive Officer have agreed that they will                be liable under certain circumstances for ensuring that the proceeds                in                the Trust Account are not reduced by the claims of target businesses                or                claims of vendors or other entities that are owed money by the Company                for                services rendered or contracted for, or products sold to, the Company.                However, there can be no assurance that these entities will be able                to                satisfy those obligations. Furthermore, they will not have any personal                liability as to any claimed amounts owed to a third party who executed                a                waiver (including a prospective target business). Additionally, in                the                case of a prospective target business that did not execute a waiver,                such                liability would only have been in an amount necessary to ensure that                public stockholders receive no less than $10.00 per share upon                liquidation. The remaining net proceeds (not held in the Trust Account)                were                permitted to be                used to pay for business, legal and accounting due diligence on                prospective acquisitions and continuing general and administrative                expenses. Additionally, up to an aggregate of $3,100,000 of interest                earned on the Trust Account balance was permitted to be released                to the                Company to fund working capital requirements and additional amounts                were                permitted to be released to the Company as necessary to satisfy tax                obligations.  |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|--------|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | The                Company, after signing a definitive agreement for the acquisition                of a                target business, was required to submit such transaction for stockholder                approval. In the event that stockholders owning 40% or more of the                shares                sold in the Offering vote against the Business Combination and exercise                their conversion rights described below, the Business Combination                would                not be consummated.                All of the Company’s stockholders prior to the Offering, including all of                the officers and directors of the Company (the “Initial Stockholders”),                agreed to vote their founding shares of common stock in accordance                with                the vote of the majority in interest of all other stockholders of                the                Company (the “Public Stockholders”) with respect to any Business                Combination.                After consummation of a Business Combination, these voting safeguards                will                no longer be applicable. With                respect to a Business Combination that is approved and consummated,                any                Public Stockholder who voted against the Business Combination had                the                ability to demand that the Company convert such Public Stockholder’s                shares. The per share conversion price is equal to the amount in                the Trust                Account, net of accrued taxes and expenses, calculated as of two                business                days prior to the consummation of the Business Combination, divided                by the                number of shares of common stock held by Public Stockholders at the                consummation of the Offering. Accordingly, Public Stockholders holding                up                to 39.99% of the aggregate number of shares owned by all Public                Stockholders (approximately 16,555,860 shares) could seek conversion                of                their shares in the event of a Business Combination. Accordingly,                a                portion of the net proceeds from the Offering (39.99% of the amounts                originally placed in the Trust Account) has been classified as common                stock subject to possible conversion in the accompanying balance                sheet. On                February 5, 2008, shareholders owning 12,543,778 shares voted against                the                Business Combination of which 12,347,427 shares have been presented                for                conversion. Such Public Stockholders are entitled to receive their                per                share interest in the Trust Account computed without regard to the                shares                held by Initial Stockholders.  |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|--------|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | The                Company’s Amended and Restated Certificate of Incorporation provides that                the Company will continue in existence only until 24 months from                June 19,                2007, the effective date of the Offering. If the Company had not                completed                a Business Combination by such date, its corporate existence would                cease,                and the Company would dissolve and liquidate for the purposes of                winding                up its affairs. In the event of liquidation, it is possible that                the per                share value of the residual assets remaining available for distribution                (including Trust Fund assets) would be less than the Offering price                per                share in the Offering (assuming no value is attributed to the Warrants                contained in the Units sold in the Offering). Concentration                of Credit Risk - The Company maintains cash in a bank deposit account                that                exceeds federally insured (FDIC) limits. The Company has not experienced                any losses on this account. Capitalized                Acquisition Costs - Capitalized Acquisition costs includes direct                costs                related to the Business Combination described in Note 3. Indirect                and                general expenses are expensed as incurred. Deferred                Income Taxes - Deferred income tax assets and liabilities are computed                for                differences between the financial statements and tax basis of assets                and                liabilities that will result in future taxable or deductible amounts                and                are based on enacted tax laws and rates applicable to the periods                in which                the differences are expected to effect taxable income. Valuation                allowances are established when necessary to reduce deferred income                tax                assets to the amount expected to be                realized. |

----

**Aldabra          2 Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Consolidated Financial Statements**

|   |                                                     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|----------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                     |   | Net                Income Per Share -                Net income per share is computed by dividing net income by the weighted                average number of shares of common stock outstanding during the period.                The effect of the 41,400,000 outstanding Warrants issued in connection                with the Offering and the 3,000,000 outstanding Warrants issued in                connection with the Private Placement has not been considered in                diluted                income per share calculations, since such Warrants are contingently                exercisable. Use                of Estimates - The preparation of financial statements in conformity                with                accounting principles generally accepted in the United States of                America                requires management to make estimates and assumptions that affect                the                reported amounts of assets and liabilities at the date of the financial                statements and the reported amounts of expenses during the reporting                period. Actual results could differ from those estimates. New                Accounting Pronouncements - Management does not believe that any                recently                issued, but not yet effective, accounting standards, if currently                adopted,                would have a material effect on the accompanying financial                statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|   |                                                     |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **2.** | **Public                Offering and Private Placement** |   | In                June 2007, the Company completed its Offering in which it sold to                the                public 41,400,000 units (the “Units”), including 5,400,000 Units subject                to the underwriters’ over-allotment option at an Offering price of $10.00                per Unit. Each Unit consists of one share of the Company’s common stock                and one Redeemable Common Stock Purchase Warrant (the “Warrants”). Each                Warrant will entitle the holder to purchase from the Company one                share of                common stock at an exercise price of $7.50, commencing on the later                of the                completion of a Business Combination and one year from the effective                date                of the Offering and expiring four years from the effective date of                the                Offering. The Company may redeem the Warrants, at a price of $.01                per                Warrant, upon 30 days’ notice while the Warrants are exercisable, only in                the event that the last sale price of the common stock is at least                $14.25                per share for any 20 trading days within a 30 trading day period                ending on                the third day prior to the date on which notice of redemption is                given. In                accordance with the warrant agreement relating to the Warrants to                be sold                and issued in the Offering, the Company is only required to use its                best                efforts to maintain the effectiveness of the registration statement                covering the Warrants. If a registration statement is not effective                at the                time of exercise, the Company will not be obligated to deliver securities,                and there are no contractual penalties for failure to deliver securities.                Additionally, in the event that a registration is not effective at                the                time of exercise, the holder of such Warrant shall not be entitled                to                exercise such Warrant and in no event (whether in the case of a                registration statement not being effective or otherwise) will the                Company                be required to net cash settle the Warrant exercise. Consequently,                the                Warrants may expire unexercised and                unredeemed. |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | The                Company agreed to pay the underwriters in the Offering an underwriting                discount of 7% of the gross proceeds of the Offering.                However, the underwriters agreed that 3% of the gross proceeds of                the                Offering ($12,420,000) will not be payable unless and until the Company                completes a Business Combination. This amount has been recorded as                a                deferred underwriting fee in the accompanying consolidated balance                sheet.                Furthermore, the underwriters have waived their right to receive                such                payment upon the Company’s liquidation if the Company is unable to                complete a Business Combination.  Simultaneously                with the consummation of the Offering, the Company’s Chairman and the                Company’s Chief Executive Officer purchased a total of 3,000,000 Warrants                (the “Insider Warrants”) at $1.00 per Warrant (for an aggregate purchase                price of $3,000,000) privately from the Company. The amount paid                for the                Warrants approximated fair value on the date of issuance. All of                the                proceeds received from these purchases have been placed in the Trust                Account. The Insider Warrants purchased were identical to the Warrants                underlying the Units issued in the Offering except that the Warrants                may                not be called for redemption and the Insider Warrants may be exercisable                on a “cashless basis,” at the holder’s option, so long as such securities                are held by such purchaser or his affiliates. Furthermore, the purchaser                has agreed that the Insider Warrants will not be sold or transferred                by                them, except for estate planning purposes, until after the Company                has                completed a Business                Combination.  |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |                                                                    |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|--------|-------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **3.** | **Purchase                Agreement for Proposed Business Combination** |   | On                September 7, 2007, the Paper Group, the Seller, the Target, Aldabra                2                Acquisition Corp. and Aldabra Sub LLC (the Company’s direct, wholly-owned                subsidiary) entered into a Purchase and Sale Agreement, as amended                by                Amendment No. 1 to Purchase and Sale Agreement, dated October 18,                2007, by                and among such persons (the “Purchase Agreement” and the transactions                contemplated by the Purchase Agreement, the “Acquisition”). Pursuant to                the Purchase Agreement, the Company will acquire the Paper Group                and other                assets and liabilities related to the operation of the paper, packaging                and newsprint, and transportation businesses of the Paper Group and                most                of the headquarters operations of the Seller (collectively, the business                to be acquired from the Seller, “Boise Paper Products” or “BPP”) through                the acquisition of the Target. The Acquisition is structured such                that,                upon closing, Aldabra will indirectly own - through Aldabra Sub LLC                - 100%                of the outstanding common units of the Target, which will in turn                own 100%                of BPP, including 100% of the outstanding equity interests of the                Paper                Group. The Company will account for the Acquisition using the purchase                method of accounting and will also allocate fair market value to                these                assets at the time of the Acquisition from a tax perspective. **Use                of Offering Proceeds** The                Company intends to use the proceeds currently in the Trust Account,                net of                accrued expenses and taxes to acquire BPP’s assets, to pay transactions                expenses (including initial business, legal and accounting due diligence                expenses on prospective business combinations, general and administrative                expenses and corporate income and franchise taxes) and to pay holders                of                Offering shares who exercise their redemption rights. The net proceeds                deposited into the Trust Account remain on deposit in the Trust Account                earning interest and will not be released until the earlier of the                consummation of a Business Combination or the Company’s liquidation. |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|--------|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | **Purchase                Price** At                the closing of the Acquisition, the Company will deliver cash and                stock                (and under certain conditions detailed below, a subordinated promissory                note) equal to $1,625,000,000 plus or minus an incremental amount                equal to                the sum of (i) the Paper Group’s cash and cash equivalents (expected to be                $38,000,000), (ii) plus or minus the amount by which the estimated                net                working capital of the paper and packaging and newsprint businesses                of the                Seller is greater or less than $329,000,000 (as applicable), and                (iii)                plus the amount (if any) by which the Company’s and its subsidiaries’                estimated net working capital is less than $404,350,800, in each                case                calculated as of 11:59 p.m. (Boise, Idaho time) on the day before                closing                (the “Adjustment Calculation Time”) (the net amount derived from the                foregoing, the “total purchase price”). Following the closing, these                estimated amounts will be compared against the actual amounts, with                any                subsequent adjustments payable through the issuance to the Seller                of                additional shares of the Company’s common stock or the return by the                Seller and cancellation of shares of the Company’s common stock -in each                case, valued based upon an average per share closing price of the                Company’s common stock for the 20 trading day period ending three trading                days prior to closing, disregarding for this purpose in such period                any                day in which trading of the Company’s common stock was conducted by, or on                behalf of, an officer or director of the Company or a family member                or                affiliate thereof (the “Average Trading Price”) - held by the                Seller. At                least $1,210,000,000 of the total purchase price must be paid in                cash,                plus the amount of fees and expenses paid directly by the Seller                to                lenders and/or agents providing the debt financing and minus other                expenses specified in the Purchase Agreement (the “Minimum Cash Amount”).                The actual cash portion of the total purchase price will equal the                amount                of the Company’s cash at closing (including the cash held in the Trust                Fund, but excluding any amounts paid upon exercise by the Company’s                stockholders of conversion rights), less transaction expenses plus                the                amount of the net proceeds from the debt financing, but will not                in any                event be less than the Minimum Cash Amount (the “Cash                Portion”). |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | The                balance of the total purchase price will be paid in the Company’s common                stock. For purposes of calculating the number of shares that will                be                issued to the Seller, the Average Trading Price will not be higher                than                $10.00 per share or lower than $9.54 per share.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|   |   |   | **Seller’s                Share Ownership Limitation** The                Purchase Agreement provides that the Seller will not receive shares                that                would cause it to hold in excess of 49% of the Company’s common stock                immediately following the closing of the Acquisition (excluding,                for                purposes of this calculation, the Company’s outstanding Warrants) and                that, in lieu of receiving shares in excess of 49%, the Company will                instead pay the Seller an amount equal to the value of such excess                shares                (valued at the Average Trading Price) in cash or through the issuance of a                subordinated promissory note. **Purchase                Price Adjustment** No                later than one business day prior to the closing, (i) the Seller                will                deliver to the Company the Seller’s calculation of the estimated net                working capital of the paper and packaging and newsprint businesses                of the                Seller as of the Adjustment Calculation Time and the estimated aggregate                cash and cash equivalents of the Paper Group and its subsidiaries                as of                the Adjustment Calculation Time and (ii) the Company will deliver                to the                Seller the Company’s calculation of its estimated net working capital and                its subsidiaries as of the Adjustment Calculation Time. |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|--------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   | At                the closing of the Acquisition, the estimated total purchase price                of                $1,625,000,000 will be adjusted by (i) either adding the amount,                if any,                by which the estimated net working capital of the paper and packaging                and                newsprint businesses of the Seller is greater than $329,000,000 or                subtracting the amount, if any, by which the estimated net working                capital                of the paper and packaging and newsprint businesses of the Seller                is less                than $329,000,000, (ii) adding the estimated aggregate cash and cash                equivalents of the Paper Group and its subsidiaries as of the Adjustment                Calculation Time and (ii) adding the amount, if any, by which the                estimated net working capital of Aldabra and its subsidiaries is                less than                $404,350,800. Following                the closing, the estimated total purchase price will be subject to                reconciliation based upon the actual net working capital of the paper                and                packaging and newsprint businesses of the Seller, the actual aggregate                cash and cash equivalents of the Paper Group and its subsidiaries                and the                actual net working capital of Aldabra and its subsidiaries (in each                case                as of the Adjustment Calculation Time) relative to the estimates                therefore                utilized in the calculation of the estimated total purchase price.                If the                estimated purchase price is greater than the total purchase price,                the                Seller is required, within five business days after the total purchase                price is finally determined, to pay Aldabra an amount equal to such                excess, which excess amount is payable by the Seller’s delivery to Aldabra                for cancellation of shares of Aldabra common stock which, when multiplied                by the Average Trading Price, equals such excess amount. **Consummation                of Acquisition** On                February 5, 2008, shareholders approved the Acquisition and related                resolutions necessary for the consummation of the Acquisition. At                the time                the Acquisition was approved, holders of 12,247,427 shares elected                to                convert their shares into cash. This will result in payment to those                converting shareholders of approximately $119,893,516 from the Trust                Account at the consummation of the Acquisition. As a result of this                conversion, upon closing of the Acquisition, Seller will receive                as part                of the Minimum Cash Portion a subordinated note of approximately                $36,202,888 million and the Company will incur additional indebtedness                of                approximately $60,700,000 million relative to a scenario in which                no                shareholders elected to convert. |

----

**Aldabra          2 Acquisition Corp.**

**(a          corporation in the development stage)**

**Notes          to Consolidated Financial Statements**

|   |                                  |   |                                                                                                       |
|--------|---------------------------------------|--------|------------------------------------------------------------------------------------------------------------|
| **4.** | **Cash                held in trust** |   | Reconciliation                of cash held in trust as of December 31, 2007, is as                follows: |

| Contribution                  to trust               |   | $      | 399,500,000 |   |
|------------------------------------------------------|--------|--------|-------------|--------|
| Interest                  income received            |   |   | 10,414,388  |   |
| Withdrawals                  to fund operations      |   |   | (2,530,000  | )      |
| Withdrawals                  to fund estimated taxes |   |   | (3,395,000  | )      |
| Total                  cash held in trust            |   | $      | 403,989,388 |   |

| **5.** | **Notes                Payable, Stockholders** |   | The                Company issued unsecured promissory notes in an aggregate principal                amount                of $100,000 to two of the Initial Stockholders on February 27, 2007.                Additional unsecured promissory notes in aggregate amounts of $25,000                and                $12,000 were issued to the Initial Stockholders on June 12, 2007                and June                21, 2007, respectively. The notes were non-interest bearing and were                payable on the earlier of February 27, 2008 and the consummation                of the                Offering. The notes payable to Initial Stockholders were paid in                full on                June 22, 2007. At December 31, 2007, $23,267 was payable to an Initial                Stockholder, Nathan Leight, and was included in Accrued Expenses                for                additional expenses incurred on behalf of the Company. |
|--------|------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                           |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| **6.** | **Income                Taxes**                |   | For                the period from February 1, 2007 (inception) to December 31, 2007,                the                provision for income taxes consists of the                following:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |

| Current:                         |   |   |      |
|----------------------------------|--------|--------|-----------|
| Federal                          |   | $      | 2,913,096 |   |
| State                  and Local |   |   | 1,762,102 |   |
| Deferred                         |   |   | (85,031   | ) |
| Total                            |   | $      | 4,590,167 |   |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |   |   |                                                                                                           |
|--------|--------|--------|----------------------------------------------------------------------------------------------------------------|
|        |        |   | Significant                components of the Company’s deferred tax asset are as                follows: |

| Expenses                  deferred for income tax purposes |   | $      | 119,669 |   |
|------------------------------------------------------------|--------|--------|---------|--------|
| Less:                  valuation allowance                 |   |   | (34,638 | )      |
| Total                                                      |   | $      | 85,031  |   |

|   |   |   | Management                has recorded a valuation allowance against its state and local deferred                tax asset because, based on its current operations at December 31,                2007,                it believes it is more likely than not that sufficient taxable income                will                not be generated to fully utilize this asset. The                Company’s effective tax rate of approximately 45.5% (which takes into                account the valuation allowance) differs from the federal statutory                rate                of 34% due to the effect of state and local income                taxes. |
|--------|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| U.S.                  statutory income tax rate |   |   | 34.0 | %      |
|-------------------------------------------------|--------|--------|------|--------|
| State                  and local income taxes   |   |   | 11.5 |   |
| Effective                  tax rate             |   |   | 45.5 | %      |

| **7.** | **Commitments** |   | The                Company presently occupies office space provided by an affiliate                of two of                the Initial Stockholders. Such affiliate has agreed that, until the                Company consummates a Business Combination, it will make such office                space, as well as certain office and secretarial services, available                to                the Company, as may be required by the Company from time to time.                The                Company agreed to pay such affiliate $7,500 per month for such services                commencing on the effective date of the Offering. The accompanying                consolidated statement of income includes $48,000 of administration                fees                relating to this agreement. |
|--------|-----------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|   |                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|--------|---------------------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                            |   | Pursuant                to letter agreements that the Initial Stockholders entered into with                the                Company and the underwriters, the Initial Stockholders waived their                right                to receive distributions with respect to their founding shares upon                the                Company’s liquidation. The                Initial Stockholders and the holders of the Insider Warrants (or                underlying securities) will be entitled to registration rights with                respect to their founding shares or Insider Warrants (or underlying                securities) pursuant to an agreement that was signed prior to the                effective date of the Offering. The holders of the majority of the                founding shares are entitled to demand that the Company register                these                shares at any time commencing three months prior to the first anniversary                of the consummation of a Business Combination. The holders of the                Insider                Warrants (or underlying securities) are entitled to demand that the                Company register these securities at any time after the Company                consummates a Business Combination. In addition, the Initial Stockholders                and holders of the Insider Warrants (or underlying securities) have                certain “piggy-back” registration rights on registration statements filed                after the Company’s consummation of a Business Combination.  As                long as the holders of (i) the shares of common stock issued to the                Seller pursuant to the Acquisition or (ii) any other shares of                Aldabra common stock acquired by the Seller control 33% or more of                the                Aldabra common stock issued to the Seller at the closing, Aldabra                will be                subject to restrictions on its business activities pursuant to the                terms                of an investor rights agreement by and between Aldabra, the Seller                and                certain directors and officers of Aldabra. The                Company agreed to pay the fees to the underwriters in the Offering                as                described in Note 2 above.  |
|   |                            |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| **8.** | **Common                Stock** |   | Effective                June 12, 2007 and June 19, 2007, the Company’s Board of                Directors authorized a stock dividend of 0.5 shares of common stock                and 0.2 shares of common stock, respectively, for each outstanding                share of common stock. On June 12, 2007, the Company’s Certificate of                Incorporation was amended to increase the authorized shares of common                stock from 60,000,000 to 85,000,000 shares of common stock. On                June 19, 2007, the Company’s Certificate of Incorporation was further                amended to increase the authorized number of shares of common stock                to                100,000,000 shares of common stock. All references in the                accompanying financial statements to the number of shares of common                stock                have been retroactively restated to reflect these transactions.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |

----

**Aldabra        2 Acquisition Corp.**

**(a        corporation in the development stage)**

**Notes        to Consolidated Financial Statements**

|    |                                             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|--------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **9.**  | **Preferred                Stock**               |   | The                Company is authorized to issue 1,000,000 shares of preferred stock                with                such designations, voting and other rights and preferences as may                be                determined from time to time by the Board of Directors. The                agreement with the underwriters prohibits the Company, prior to a                Business                Combination, from issuing preferred stock that participates in the                proceeds of the Trust Account or which votes as a class with the                common                stock on a Business Combination.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|    |                                             |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| **10.** | **Commitments                and Contingencies** |   | On                October 18, 2007, Aldabra Sub LLC entered into a commitment letter                with                Goldman Sachs Credit Partners, L.P. with respect to (i) a $250 million                senior secured first lien Tranche A term loan facility, (ii) a $475                million senior secured first lien Tranche B term loan facility, (iii)                a                $250 million senior secured first lien revolving credit facility                and (iv)                a $200 million (which amount may be increased up to $260.7 million)                senior                secured second lien term loan facility, to provide financing for the                Acquisition. With respect to these loan facilities, on November 2,                2007,                Aldabra Sub LLC entered into an amended and restated commitment letter                with Goldman Sachs Credit Partners, L.P. and Lehman Brothers Inc.,                as                joint lead arrangers and joint bookrunners, and Goldman Sachs Credit                Partners, L.P. and Lehman Brothers Commercial Paper Inc. as the initial                lenders. This commitment is subject to the lack of a material change                in                the Company’s financial condition and the financial condition of BPP,                legal requirements (such as the granting of security interests for                the                benefit of the lenders) and other matters that are in addition to                the                conditions under the purchase agreement. The loan facilities are                subject                to the execution of definitive documentation. On                February 20, 2008, the Company announced that Goldman Sachs Credit                Partners, L.P. and Lehman Brothers Inc. had priced these loan facilities                as follows: ·                    a                $250 million senior secured first lien revolving credit facility                and a                $250 million senior secured first lien Tranche A term loan facility                priced                at LIBOR plus 325 basis points, with a term of five years and a closing                fee of approximately 2%;  ·                    a                $475 million senior secured first lien Tranche B term loan facility                priced                at LIBOR (with a floor of 4.00%) plus 350 basis points, with a term                of six                years and a closing fee of 5%; and ·                    a                $260.7 million senior secured second lien term loan facility priced                at                LIBOR (with a floor of 5.5%) plus 700 basis points, with a term of                seven                years and a closing fee of 10%. |

----

**ITEM 9.**
**CHANGES      IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AN**
**D      FINANCIAL DISCLOSURE.**

**ITEM 9A.**
**CONTROLS      AND PROCEDURES**
**.**

*Effectiveness      of Disclosure Controls and Procedures*

*Changes      in Internal Control Over Financial Reporting*

----

**ITEM 9B.**
**OTHER      INFORMATION.**

**Special      Meeting of Stockholders**

|   | 1. | the                adoption of the purchase agreement the approval of the                Acquisition; |
|--------|----|-------------------------------------------------------------------------------------------------------|

|   | 2. | the                adoption of a certificate of amendment to our existing amended and                restated certificate of incorporation to increase the number of authorized                shares of common stock from 100 million to 250                million; |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | the                adoption of an amended and restated charter, immediately following                the                closing of the Acquisition, to, among other things, change our name                to                “Boise Inc.,” delete certain provisions that relate to us as a blank check                company and create perpetual corporate                existence; |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | the                election of nine members of the board of directors to serve on the                Boise                Inc. board of directors from the completion of the Acquisition until                their                successors are duly elected and qualified;                and |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | the                adoption of the 2008 Boise Inc. Incentive and Performance                Plan. |
|--------|----|---------------------------------------------------------------------------------------------------|

**Exchange      Listing**

----

**PART III**

**ITEM 10.**
**DIRECTORS,      EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE.**

**Directors      and Executive Officers **

| **Name**                          |   | **Age** |   | **Position**                                         |
|-----------------------------------|--------|---------|--------|------------------------------------------------------|
| Nathan                D. Leight   |   | 48      |   | Chairman                of the Board                 |
| Jason                G. Weiss     |   | 38      |   | Chief                Executive Officer and Secretary |
| Jonathan                W. Berger |   | 48      |   | Director                                             |
| Richard                H. Rogel   |   | 58      |   | Director                                             |
| Carl                A. Albert     |   | 65      |   | Director                                             |

*Nathan      D. Leight, Director*

----

*Jason      G. Weiss, Director*

*Jonathan      W. Berger, Director*

*Richard      H. Rogel, Director*

----

*Carl      A. Albert, Director*

**Audit      Committee **

|   | · | reviewing                and discussing with management and the independent auditor the annual                audited financial statements, and recommending to the board whether                the                audited financial statements should be included in our Form                10−K; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | discussing                with management and the independent auditor significant financial                reporting issues and judgments made in connection with the preparation                of                our audited financial statements; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | discussing                with management major risk assessment and risk management                policies; |
|--------|--------|--------------------------------------------------------------------------------------------------------------|

|   | · | monitoring                the independence of the independent                auditor; |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | verifying                the rotation of the lead (or coordinating) audit partner having primary                responsibility for the audit and the audit partner responsible for                reviewing the audit as required by                law; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | · | reviewing                and approving all related-party                transactions; |
|--------|--------|---------------------------------------------------------------------------------------|

|   | · | inquiring                and discussing with management our compliance with applicable laws                and                regulations; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | pre-approving                all audit services and permitted non-audit services to be performed                by our                independent auditor, including the fees and terms of the services                to be                performed; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | appointing                or replacing the independent                auditor; |
|--------|--------|--------------------------------------------------------------------------------|

|   | · | determining                the compensation and oversight of the work of the independent auditor                (including resolution of disagreements between management and the                independent auditor regarding financial reporting) for the purpose                of                preparing or issuing an audit report or related work;                and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | establishing                procedures for the receipt, retention and treatment of complaints                received                by us regarding accounting, internal accounting controls or reports                which                raise material issues regarding our financial statements or accounting                policies. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Financial      Experts on Audit Committee **

**Nominating      Committee **

----

*Guidelines      for Selecting Director Nominees*

|   | · | should                have demonstrated notable or significant achievements in business,                education or public service; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------|

|   | · | should                possess the requisite intelligence, education and experience to make                a                significant contribution to the board of directors and bring a range                of                skills, diverse perspectives and backgrounds to its deliberations;                and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | should                have the highest ethical standards, a strong sense of professionalism                and                intense dedication to serving the interests of the                stockholders. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Compensation      Committee**

**Section      16(a) Beneficial Ownership Reporting Compliance**

**Code      of Ethics**

----

**ITEM 11.**
**EXECUTIVE      COMPENSATION.**
** **

**Compensation      Discussion and Analysis**** **

**Compensation      Committee Report**

**Compensation      Committee Interlocks and Insider Participation in Compensation Decisions**

**Potential      Payments Upon Termination or Change of Control**

**Executive      Officer and Director Compensation** 

----

**ITEM 12.**
**SECURITY      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMEN**
**T      AND RELATED STOCKHOLDER MATTERS.**** **

| **Name                of Beneficial Owner and Management****(1)**                                                       |   | **#                of****shares****(2)** |       | **%**  |   |
|-------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|------------|--------|--------|
| Amber                Master Fund (Cayman) SPC(3)(4)                                                                |   |                                     | 3,090,000  |   |   | 5.97 | % |
| Terrapin                Partners Venture Partnership and Terrapin Partners Employee                Partnership(5)  |   |                                     | 10,215,000 |   |   | 19.74 | % |
| Nathan                D. Leight(5)(6)(7)                                                                           |   |                                     | 10,763,300 |   |   | 20.80 | % |
| Jason                G. Weiss(5)(7)                                                                                |   |                                     | 10,765,000 |   |   | 20.80 | % |
| Jonathan                W. Berger(8)(9)                                                                            |   |                                     | 45,500     |   |   | * |   |
| Richard                H. Rogel(10)                                                                                |   |                                     | 158,000    |   |   | * |   |
| Carl                A. Albert(11)                                                                                  |   |                                     | 90,000     |   |   | * |   |
| Sanjay                Arora(12)                                                                                    |   |                                     | 621,000    |   |   | 1.20 | % |
| All                directors and executive officers as a group (5                persons)                               |   |                                     | 11,606,800 |   |   | 22.43 | % |

----

| * | Less                than 1%. |
|---|------------------------------|

| (1) | Unless                otherwise indicated, the business address of each of the individuals                is                c/o Terrapin Partners, LLC, 540 Madison Avenue, 17th Floor, New York,                New                York 10022. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | On                February 8, 2008, 51,750,000 shares of Aldabra common stock were                outstanding. |
|-----|----------------------------------------------------------------------------------------------------------------|

| (3) | The                address of Amber Master Fund (Cayman) SPC is P.O. Box 309 GT, Ugland                House, South Church Street, George Town, Grand Cayman, Cayman                Islands. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (4) | Derived                from Schedule 13G, filed with the SEC on December 17, 2007. As reported                in                the Schedule 13G, each of Amber Master Fund (Cayman) SPC, Amber Capital                LP, Amber Capital GP LLC, Michael Brogard and Joseph Oughourlian                is the                beneficial owner of 3,090,000 shares of Aldabra common stock and                shares                the power to direct the vote and disposition of the Aldabra common                stock. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Includes                (a) 9,913,500 shares of common stock held by the Terrapin Partners                Venture                Partnership and (b) 301,500 shares of common stock held by the Terrapin                Partners Employee Partnership. Messrs. Leight and Weiss are the general                partners of the Terrapin Partners Venture Partnership and they and/or                their family trusts are the owners of the Terrapin Partners Venture                Partnership. Terrapin Partners, LLC is the general partner of the                Terrapin                Partners Employee Partnership and Messrs. Leight and Weiss are the                co-managers of Terrapin Partners, LLC. Accordingly, all shares held                by the                Terrapin Partners Venture Partnership and the Terrapin Partners Employee                Partnership are deemed to be beneficially owned by them. Terrapin                Partners                Venture Partnership has allocated 621,000 shares to Sanjay Arora                and                165,000 shares to Guy Barudin, both of whom are employees of Terrapin                Partners, LLC, and 10,000 shares to each of Sheli Rosenberg and Peter                R.                Deutsch, both special advisors to Aldabra. The remaining shares held                by                Terrapin Partners Venture Partnership have been allocated to Messrs.                Leight and Weiss (or their affiliates). Messrs. Arora’s and Barudin’s                shares vest over time commencing from the consummation of Aldabra’s IPO                for as long as Mr. Arora and Mr. Barudin remain employed by Terrapin                Partners, LLC. The shares allocated to Messrs. Leight and Weiss (or                their                affiliates) and Ms. Rosenberg and Mr. Deutsch have no vesting requirements                and have already vested in full in the individuals or entities. Terrapin                Partners Employee Partnership has allocated certain of its shares                to                employees and affiliates of Terrapin Partners, LLC. These shares                vest in                full in the employees and affiliates when the shares are released                from                escrow, provided such individuals are still employed by or affiliated                with                Terrapin Partners, LLC at such                time. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Does                not include 2,900 warrants underlying the 2,900 units purchased by                Mr.                Leight post-IPO, which warrants are not currently exercisable but                which                warrants are expected to be exercisable within 60 days after the                consummation of Aldabra’s business                combination. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Excludes                1,500,000 warrants which are not currently exercisable but which                warrants                are expected to be exercisable within 60 days after the consummation                of                Aldabra’s business combination. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (8) | The                business address of Mr. Berger is 1180 Peachtree Street, N.E., Suite                1900,                Atlanta, Georgia 30309. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| (9) | Does                not include 10,000 warrants purchased by Mr. Berger post-IPO, which                warrants are not currently exercisable but which warrants are expected                to                be exercisable within 60 days after the consummation of Aldabra’s business                combination. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (10) | Does                not include 40,000 warrants purchased by Mr. Rogel post-IPO, which                warrants are not currently exercisable but which warrants are expected                to                be exercisable within 60 days after the consummation of Aldabra’s business                combination. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (11) | The                business address of Mr. Albert is 10940 Bellagio Road, Suite A, Los                Angeles, California 90077. |
|------|----------------------------------------------------------------------------------------------------------------------------------|

| (12) | Represents                shares allocated by Terrapin Partners Venture Partnership to Mr.                Arora and                does not include 2,000 shares of common stock purchased by Mr. Arora                in                the open market. The shares vest over time commencing from the                consummation of Aldabra’s IPO, for so long as Mr. Arora remains employed                by Terrapin Partners, LLC. To the extent such shares do not vest,                they                will revert back to Terrapin Partners Venture                Partnership. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**ITEM 13.**
**CERTAIN      RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR      INDEPENDENCE.**

**Certain      Relationships and Related Transactions**

***Agreements      with Stockholders***

*Subscription      Agreements. *

----

*Investor      Rights Agreement. *

----

***Agreements      with Officers and Directors***

***Agreements      with the Seller***

*Contribution      Agreement. *

*Timber      Procurement and Management Agreement. *

----

*Intellectual      Property License Agreement. *

*Outsourcing      Agreement. *

**Director      Independence **

----

**ITEM 14.**
**PRINCIPAL      ACCOUNTING FEES AND SERVICES**
**.**

| Audit                Fees - M&P  |   | $ | 25,000 |   |
|--------------------------------------|--------|---|--------|--------|
| Audit                Fees - GGK |   | $ | 82,072 |   |
| Audit-Related                Fees    |   | $ | -      |   |
| Tax                Fees              |   | $ | -      |   |
| All                Other Fees        |   | $ | -      |   |
| Total                Fees            |   | $ | 82,072 |   |

**Audit      Fees**

**Audit-Related      Fees**

**Tax      Fees**

**All      Other Fees**

**Audit      Committee’s Pre-approval Policy and Procedures**

----

**PART IV**

**ITEM 15.**
**EXHIBITS,      FINANCIAL STATEMENT SCHEDULES**
**.**

| **Exhibit No.** |   | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 1.1                  |   | Form                of Underwriting Agreement (1)                                                                                                                                                                                                                                                                                                                                                                                      |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 1.2                  |   | Form                of Selected Dealers Agreement (2)                                                                                                                                                                                                                                                                                                                                                                                  |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.1                  |   | Purchase                and Sale Agreement, by and among Boise Cascade, L.L.C., Boise Paper                Holdings, L.L.C., Boise White Paper, L.L.C., Boise Packaging &                Newsprint, L.L.C., Boise Cascade Transportation Holdings Corp., Aldabra                2                Acquisition Corp. and Aldabra Sub LLC (3)                                                                                         |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.2                  |   | Amendment                No. 1 to Purchase and Sale Agreement, dated October 18, 2007, by                and among                Boise Cascade, L.L.C., Boise Paper Holdings, L.L.C., Boise White                Paper,                L.L.C., Boise Packaging & Newsprint, L.L.C., Boise Cascade                Transportation Holdings Corp., Aldabra 2 Acquisition Corp. and Aldabra                Sub                LLC (4) |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.1                  |   | Amended                and Restated Certificate of Incorporation (5)                                                                                                                                                                                                                                                                                                                                                                   |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.2                  |   | By-laws                (2)                                                                                                                                                                                                                                                                                                                                                                                                             |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.1                  |   | Specimen                Unit Certificate (2)                                                                                                                                                                                                                                                                                                                                                                                           |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.2                  |   | Specimen                Common Stock Certificate (2)                                                                                                                                                                                                                                                                                                                                                                                   |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.3                  |   | Specimen                Warrant Certificate (2)                                                                                                                                                                                                                                                                                                                                                                                        |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.4                  |   | Form                of Warrant Agreement between Continental Stock Transfer & Trust                Company and the Registrant (1)                                                                                                                                                                                                                                                                                             |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.1                 |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Nathan                D.                Leight (2)                                                                                                                                                                                                                                                                                                |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.2                 |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Jason                G.                Weiss (2)                                                                                                                                                                                                                                                                                                  |

----

| 10.3   |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Jonathan                W.                Berger (2)                                                |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                     |
| 10.4   |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Richard                H.                Rogel (2)                                                  |
|   |   |                                                                                                                                                                                     |
| 10.5   |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Carl                A.                Albert (2)                                                    |
|   |   |                                                                                                                                                                                     |
| 10.6   |   | Form                of Investment Management Trust Agreement between Continental Stock                Transfer & Trust Company and the Registrant                (1)            |
|   |   |                                                                                                                                                                                     |
| 10.7   |   | Form                of Stock Escrow Agreement between the Registrant, Continental Stock                Transfer & Trust Company and the Initial Stockholders                (1) |
|   |   |                                                                                                                                                                                     |
| 10.8   |   | Form                of Letter Agreement between Terrapin Partners LLC and Registrant                regarding                administrative support (2)                                  |
|   |   |                                                                                                                                                                                     |
| 10.9   |   | Form                of Promissory Note issued to each of Nathan D. Leight and Jason G.                Weiss                (2)                                                           |
|   |   |                                                                                                                                                                                     |
| 10.10  |   | Form                of Registration Rights Agreement among the Registrant and the Initial                Stockholders (6)                                                                |
|   |   |                                                                                                                                                                                     |
| 10.11  |   | Form                of Subscription Agreements among the Registrant, Graubard Miller                and each                of Nathan D. Leight and Jason G. Weiss (2)                   |
|   |   |                                                                                                                                                                                     |
| 14.1   |   | Form                of Code of Ethics (6)                                                                                                                                                |
|   |   |                                                                                                                                                                                     |
| 21.1   |   | List                of Subsidiaries (*)                                                                                                                                                  |
|   |   |                                                                                                                                                                                     |
| 31.1   |   | Certification                of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 (*)                                                     |
|   |   |                                                                                                                                                                                     |
| 32.1   |   | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 (*)                                                     |
|   |   |                                                                                                                                                                                     |
| 99.1   |   | Form                of Audit Committee Charter (6)                                                                                                                                       |

----

| 99.2   |   | Form                of Nominating Committee Charter (6) |
|--------|--------|---------------------------------------------------------|
|   |   |                                                    |
| 99.3   |   | Audited                Financial Statements (7)         |

----

| (1) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1/A, filed with the SEC on June 13, 2007 and                incorporated herein by reference. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1, filed with the SEC on March 19, 2007 and                incorporated herein by reference. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Form 8-K/A,                filed with the SEC on September 12, 2007 and incorporated herein                by                reference. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Form 8-K, filed                with the SEC on October 24, 2007 and incorporated herein by                reference. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1MEF, filed with the SEC on June 19, 2007 and                incorporated herein by reference.  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1/A, filed with the SEC on April 26, 2007 and                incorporated herein by reference. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Form 8-K, filed                with the SEC on June 27, 2007 and incorporated herein by                reference. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**SIGNATURES**

|                                                        |                                                                    |                              |
|-------------------------------------------------------------|-------------------------------------------------------------------------|-----------------------------------|
|                                                        | Aldabra                2 Acquisition Corp.                              |
|                                                   |                                                               |                         |
|                                                             | By:                                                           | /s/                Jason G. Weiss |
|                Dated:                February 21, 2008 | Jason                G. Weiss*Chief                  Executive Officer* |

| **Signature**                         |   | **Title**                                           |   | **Date**                         |
|---------------------------------------|--------|-----------------------------------------------------|--------|----------------------------------|
|                                  |   |                                                |   |                             |
| /s/                Nathan D. Leight   |   | Chairman                  of the Board of Directors |   | February                21, 2008 |
| Nathan                D. Leight       |   |                                                     |   |                             |
|                                  |   |                                                |   |                             |
| /s/                Jason G. Weiss     |   | Chief                Executive Officer,             |   | February                21, 2008 |
| Jason                G. Weiss         |   | Secretary                and Director               |   |                             |
|                                  |   |                                                |   |                             |
| /s/                Jonathan W. Berger |   | Director                                            |   | February                21, 2008 |
| Jonathan                W. Berger     |   |                                                |   |                             |
|                                  |   |                                                |   |                             |
| /s/                Richard H. Rogel   |   | Director                                            |   | February                21, 2008 |
| Richard                H. Rogel       |   |                                                |   |                             |
|                                  |   |                                                |   |                             |
| /s/                Carl A. Albert     |   | Director                                            |   | February                21, 2008 |
| Carl                A. Albert         |   |                                                |   |                             |

----

**EXHIBIT      INDEX**

| **Exhibit No.** |   | **Description**                                                                                                                                                                                                                                                                                                                                                                                                                        |
|----------------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 1.1                  |   | Form                of Underwriting Agreement (1)                                                                                                                                                                                                                                                                                                                                                                                      |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 1.2                  |   | Form                of Selected Dealers Agreement (2)                                                                                                                                                                                                                                                                                                                                                                                  |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.1                  |   | Purchase                and Sale Agreement, by and among Boise Cascade, L.L.C., Boise Paper                Holdings, L.L.C., Boise White Paper, L.L.C., Boise Packaging &                Newsprint, L.L.C., Boise Cascade Transportation Holdings Corp., Aldabra                2                Acquisition Corp. and Aldabra Sub LLC (3)                                                                                         |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 2.2                  |   | Amendment                No. 1 to Purchase and Sale Agreement, dated October 18, 2007, by                and among                Boise Cascade, L.L.C., Boise Paper Holdings, L.L.C., Boise White                Paper,                L.L.C., Boise Packaging & Newsprint, L.L.C., Boise Cascade                Transportation Holdings Corp., Aldabra 2 Acquisition Corp. and Aldabra                Sub                LLC (4) |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.1                  |   | Amended                and Restated Certificate of Incorporation (5)                                                                                                                                                                                                                                                                                                                                                                   |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 3.2                  |   | By-laws                (2)                                                                                                                                                                                                                                                                                                                                                                                                             |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.1                  |   | Specimen                Unit Certificate (2)                                                                                                                                                                                                                                                                                                                                                                                           |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.2                  |   | Specimen                Common Stock Certificate (2)                                                                                                                                                                                                                                                                                                                                                                                   |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.3                  |   | Specimen                Warrant Certificate (2)                                                                                                                                                                                                                                                                                                                                                                                        |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 4.4                  |   | Form                of Warrant Agreement between Continental Stock Transfer & Trust                Company and the Registrant (1)                                                                                                                                                                                                                                                                                             |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.1                 |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Nathan                D.                Leight (2)                                                                                                                                                                                                                                                                                                |
|                 |   |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| 10.2                 |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Jason                G.                Weiss (2)                                                                                                                                                                                                                                                                                                  |

----

| 10.3   |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Jonathan                W.                Berger (2)                                                |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                     |
| 10.4   |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Richard                H.                Rogel (2)                                                  |
|   |   |                                                                                                                                                                                     |
| 10.5   |   | Letter                Agreement among the Registrant, Lazard Capital Markets LLC and Carl                A.                Albert (2)                                                    |
|   |   |                                                                                                                                                                                     |
| 10.6   |   | Form                of Investment Management Trust Agreement between Continental Stock                Transfer & Trust Company and the Registrant                (1)            |
|   |   |                                                                                                                                                                                     |
| 10.7   |   | Form                of Stock Escrow Agreement between the Registrant, Continental Stock                Transfer & Trust Company and the Initial Stockholders                (1) |
|   |   |                                                                                                                                                                                     |
| 10.8   |   | Form                of Letter Agreement between Terrapin Partners LLC and Registrant                regarding                administrative support (2)                                  |
|   |   |                                                                                                                                                                                     |
| 10.9   |   | Form                of Promissory Note issued to each of Nathan D. Leight and Jason G.                Weiss                (2)                                                           |
|   |   |                                                                                                                                                                                     |
| 10.10  |   | Form                of Registration Rights Agreement among the Registrant and the Initial                Stockholders (6)                                                                |
|   |   |                                                                                                                                                                                     |
| 10.11  |   | Form                of Subscription Agreements among the Registrant, Graubard Miller                and each                of Nathan D. Leight and Jason G. Weiss (2)                   |
|   |   |                                                                                                                                                                                     |
| 14.1   |   | Form                of Code of Ethics (6)                                                                                                                                                |
|   |   |                                                                                                                                                                                     |
| 21.1   |   | List                of Subsidiaries (*)                                                                                                                                                  |
|   |   |                                                                                                                                                                                     |
| 31.1   |   | Certification                of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley                Act of 2002 (*)                                                     |
|   |   |                                                                                                                                                                                     |
| 32.1   |   | Certification                of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley                Act of 2002 (*)                                                     |
|   |   |                                                                                                                                                                                     |
| 99.1   |   | Form                of Audit Committee Charter (6)                                                                                                                                       |

----

| 99.2   |   | Form                of Nominating Committee Charter (6) |
|--------|--------|---------------------------------------------------------|
|   |   |                                                    |
| 99.3   |   | Audited                Financial Statements (7)         |

----

| (1) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1/A, filed with the SEC on June 13, 2007 and                incorporated herein by reference. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1, filed with the SEC on March 19, 2007 and                incorporated herein by reference. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Form 8-K/A,                filed with the SEC on September 12, 2007 and incorporated herein                by                reference. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Form 8-K, filed                with the SEC on October 24, 2007 and incorporated herein by                reference. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1MEF, filed with the SEC on June 19, 2007 and                incorporated herein by reference.  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Registration                Statement on Form S-1/A, filed with the SEC on April 26, 2007 and                incorporated herein by reference. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (7) | Previously                filed as an exhibit to Aldabra 2 Acquisition Corp.’s Form 8-K, filed                with the SEC on June 27, 2007 and incorporated herein by                reference. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----