Emmis Acquisition Corp. (NASDAQ: EMIS) is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands, established on March 21, 2025, with offices in Fort Lauderdale, Florida. As a SPAC, it has no commercial operations and exists solely to execute a business combination, such as a merger, share exchange, or asset acquisition. The company raised $100 million through its IPO, pricing 10 million units at $10.00 each, and its units began trading on the Nasdaq Global Market on September 25, 2025. The leadership team, headed by Chairman and CEO Peter Goldstein and CFO David Lowenstein, brings extensive capital markets and IPO experience. The company intends to target businesses domiciled in North America and Southeast Asia, favoring sectors like manufacturing, distribution, and services, with a focus on companies with strong revenue and cash flow that seek majority recapitalization. As of the latest data, the company has minimal employees (2-10) and maintains a trust account to fund the future acquisition. Financial metrics indicate it is in a pre-revenue stage, with zero revenue and net income, but it holds significant cash per share ($0.059) and tangible book value ($9.96). The stock trades around $10.24 with a market cap of $161.5 million. The company's success depends on identifying a suitable target and completing a deal within the required timeframe, which carries risks typical of SPAC investments.
