E.Merge Technology Acquisition Corp.
ETAC
NASDAQ Capital Market10.05
USD
-0.01
- -
CIK
0001814728
ISIN
US26873Y1047
Return %
Stock
S&P500
1Y
1.82
26.84
3Y
2.55
77.03
5Y
2.55
80.55
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Jeffrey J. Clarke
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 533 Airport Boulevard Burlingame CA United States of America 94301
- IPO Date
- Sep 18, 2020
- CIK
- 0001814728
- Similar Companies
- Business
- E.Merge Technology Acquisition Corp. is a blank check company formed in 2020 and headquartered in Burlingame, California. The company specializes in effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations primarily in the software and internet technology sectors. E.Merge does not have commercial operations or revenues of its own; rather, it raises capital through public offerings to facilitate the acquisition of technology businesses. Its primary offering consists of units including Class A common stock and redeemable warrants, targeting companies with valuations typically between $1 billion and $3 billion. The company completed an initial public offering in August 2020, raising $522 million, and subsequently issued additional units to increase gross proceeds to approximately $600 million. E.Merge Technology Acquisition Corp. has experienced significant strategic developments in the last two years, including an expansion of its Board of Directors to enhance governance with independent directors. However, the company announced a decision to dissolve and liquidate in 2022 following its failure to finalize a business combination by specified deadlines, offering redemption to public shareholders and liquidating its trust account. It recently faced operational challenges such as delayed financial reporting and regulatory compliance issues related to SEC filings. Overall, E.Merge Technology Acquisition Corp. operates as a special purpose acquisition company (SPAC) with a focus on acquiring and merging with internet and software technology companies, supported by experienced leadership including co-CEOs Jeff Clarke and Guy Gecht and Chair S. Steven Singh. The company targets high-growth technology sectors but as of the latest updates has been undergoing liquidation following unsuccessful business combination attempts. It prioritizes mergers and acquisitions rather than direct product or service offerings. The company’s activities are regional to the United States with emphasis on technology industry verticals. This description encompasses its core business model, financial foundations, and latest major operational changes.