- CEO
- Jeffrey Scott Ransdell
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 50 Biscayne Boulevard Miami FL United States of America 33132
- IPO Date
- Jun 7, 2021
- Business
- Maquia Capital Acquisition Corporation is a special purpose acquisition company (SPAC) focused on facilitating business combinations primarily within the technology sector, including enterprise AI, spatial computing, and high-performance computing. The company operates by raising capital through public offerings to acquire or merge with private companies, enabling those companies to transition to public markets efficiently. Maquia targets technology-focused middle-market and emerging growth businesses operating mainly in North America. Its business involves structured deal-making, due diligence, and navigating regulatory frameworks that govern SPACs, while it does not generate revenue through traditional operational activities. The company was founded in 2019 and is headquartered in Austin, Texas.
Maquia Capital's core activities center on raising funds through an initial public offering and pursuing strategic business combinations in sectors such as enterprise software, AR/VR technology, and related advanced tech fields. The company aims to partner with firms that exhibit diversified revenue streams that blend hardware, software, and SaaS models to enhance productivity and innovation.
Recent major developments include the mutual termination in May 2024 of its previously announced business combination agreement with Immersed Inc., a company specializing in enterprise AR/VR tools designed to improve worker productivity and collaboration. Despite this termination, Maquia remains committed to seeking a suitable business combination. The company has extended its deadline for completing an initial business combination multiple times, most recently extending it to February 7, 2026, demonstrating flexibility in its search for acquisition targets. Additionally, Maquia has engaged in financing activities such as raising convertible notes backed by notable investors. It also plans to continue operations and corporate governance adjustments under Delaware law to ensure compliance with regulatory requirements. The company trades publicly on the OTC market and previously was listed on Nasdaq before a strategic delisting.