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NEW YORK - Emmis Acquisition Corp. (NASDAQ:EMISU) announced Thursday the closing of its initial public offering, raising $115 million by selling 11.5 million units at $10 each, including 1.5 million units from the full exercise of the underwriter’s over-allotment option. The units are currently trading at $9.99, showing stable market reception, with average daily trading volume reaching 1.15 million units.
The units, which began trading on the Nasdaq Global Market on Wednesday under the ticker symbol "EMISU," each consist of one Class A ordinary share and one right to receive one-tenth of a Class A ordinary share upon completion of an initial business combination. Since its debut, the units have traded in a narrow range between $9.98 and $10.01. For detailed IPO performance metrics and real-time analysis, consider exploring InvestingPro, which offers comprehensive IPO tracking tools and institutional-grade insights.
The company has deposited $10 per unit into a trust account. Once the securities begin separate trading, the Class A ordinary shares and share rights are expected to list on Nasdaq under the symbols "EMIS" and "EMISR," respectively.
Emmis Acquisition Corp. is a blank check company formed to effect a business combination with one or more businesses. While it may pursue acquisition opportunities in any business or industry, the company plans to focus on industrial and business services, manufacturing, transportation, distribution, and technology sectors.
The company’s management team is led by Chief Executive Officer Peter Goldstein and Chief Financial Officer David Lowenstein, who both serve as directors.
I-Bankers Securities, Inc. and IB Capital LLC acted as book-running managers for the offering, which was conducted pursuant to a registration statement that became effective with the U.S. Securities and Exchange Commission on September 24, 2025, according to the company’s press release statement.
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