- Business
- Maquia Capital Acquisition Corporation (MAQCW) is 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 or entities. The company offers no current products or services beyond its SPAC structure, which provides public market exposure through units comprising Class A ordinary shares and warrants, public warrants exercisable for Class A ordinary shares, and its ongoing trust account holding IPO proceeds for deployment in a target acquisition; it originally targets technology-focused middle-market and emerging growth businesses primarily in the US and Canada. Founded in 2020 and headquartered in Miami, Florida, Maquia Capital operates geographically in North America with a focus on North American targets and maintains compliance efforts amid Nasdaq listing challenges. In recent developments, the company mutually terminated its business combination agreement with Immersed Inc. in May 2024, announced a merger agreement with Velocium, Inc., a high-performance compute company optimized for AI, on July 22, 2024, increased sponsor contributions to its trust account including from $0.0333 to $0.045 per share in 2024, faced Nasdaq delinquency notices for delayed filings and extension needs with an amendment vote on January 31, 2025, and continues pursuing a business combination as a live deal with SEC filings ongoing.