- CEO
- Wei Qian
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 25 West 39th Street New York City NY United States of America 10018
- IPO Date
- Jan 21, 2022
- Business
- Capitalworks Emerging Markets Acquisition Corp (CMCAW) is a blank check company sponsored by CEMAC Sponsor LP that does not have significant operations and focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses, primarily targeting high-growth, cross-border companies operating in middle-income emerging markets in sectors including consumer and consumer technology; financial and business services; healthcare; and technology, media, and telecom. The Cayman Islands-incorporated company, founded in 2021 and headquartered in New York, New York, raised $230 million in its initial public offering and maintains a website at https://www.cemac.online for investor relations and forward-looking disclosures. In recent developments, it announced a proposed business combination with Lexasure Financial Group, an Asian reinsurance provider, valued at $250 million in 2023, which involved a merger agreement later terminated in March 2024; postponed shareholder meetings multiple times, including an indefinite postponement of an extraordinary general meeting; changed its name to Piermont Valley Acquisition Corp in February 2025; and faced Nasdaq delisting notices for its ordinary shares.