Group Nine Acquisition Corp.
GNAC
NASDAQ Capital Market9.97
USD
-0.13
- -
Group Nine Acquisition Corp.
GNAC
(NASDAQ Capital Market)
Recent
price
9.97
P/E
ratio
- -
div
yld
- -
ROIC.AI
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.- Similar Companies
- Business
- Group Nine Acquisition Corp. (GNAC) is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses; it focuses its search primarily on target companies in the digital media and adjacent industries, including social media, e-commerce, events, digital publishing, and marketing sectors. The company does not conduct any significant operations prior to completing an initial business combination and generates no operating revenues until such an event occurs. Founded in November 2020 and headquartered in New York, New York, GNAC completed its initial public offering in January 2021, raising $230 million through the sale of 23 million units on the Nasdaq Capital Market; in May 2022, Group Nine SPAC LLC, its sponsor, entered into a membership interest purchase agreement with 890 5th Avenue Partners LLC to transfer sponsor interests; as of late 2022, the company held a shareholder meeting on December 21 to vote on public share redemptions amid no completed business combination. GNAC operates within the diversified financials sector, specifically investment holding companies, with shares trading on Nasdaq under the symbols GNAC for Class A common stock and GNACW for warrants. Major shareholders include private entities such as Vox Media Inc. and institutional investors holding significant stakes, reflecting a structure typical of special purpose acquisition companies awaiting deployment of capital.