E.Merge Technology Acquisition Corp.
ETACU
NASDAQ Capital Market10.08
USD
-0.14
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E.Merge Technology Acquisition Corp.
ETACU
(NASDAQ Capital Market)
Recent
price
10.08
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- E.Merge Technology Acquisition Corp. (NASDAQ: ETACU) operates as a blank check company, or special purpose acquisition company (SPAC), formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on the software and internet technology industries; its units consist of one share of Class A common stock and one-third of a redeemable warrant exercisable at $11.50 per share. The company, founded in 2020 and headquartered in Burlingame, California, raised $600 million in gross proceeds through its initial public offering in 2020, underwritten by Cantor Fitzgerald and Mizuho Securities, with 100% of IPO proceeds held in trust; it targets technology-enabled businesses such as software-as-a-service platforms, cloud infrastructure and digital marketplaces demonstrating scalable growth potential, primarily in global markets. In 2022, the company dissolved and liquidated after failing to complete an initial business combination by the deadline in its amended charter, redeeming public shares at approximately $10.06 per share effective September 4, 2022, with warrants expiring worthless; its sponsor waived redemption rights on Class B shares and private placement units, marking the culmination of its 24-month tenor following a brief extension from August to November 2022.