Model Performance Acquisition Corp.
MPACU
NASDAQ Capital Market7.97
USD
-2.07
- -
Model Performance Acquisition Corp.
MPACU
(NASDAQ Capital Market)
Recent
price
7.97
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Model Performance Acquisition Corp. (NASDAQ: MPACU) is a blank check company, or special purpose acquisition company (SPAC), incorporated in the British Virgin Islands whose principal business activity is to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, with a focus on the consumer and technology sectors including artificial intelligence, data analytics, software-as-a-service, and digital marketing opportunities. The company offers no operating products or services beyond its SPAC structure, which includes Class A ordinary shares, redeemable warrants exercisable at $11.50 per share, and rights to receive one-tenth of one Class A ordinary share upon completion of an initial business combination; it raised approximately $50 million in its April 2021 initial public offering, with funds held in trust for deployment in a target acquisition. Headquartered in Central, Hong Kong, and founded in 2021, Model Performance Acquisition targets high-growth companies with scalable models, proven management, and innovative solutions primarily in North America and Asia; it operates through a single segment with no subsidiaries or parent relationships as a standalone SPAC seeking public market entry for private targets. In early 2023, the company completed a business combination with MultiMetaVerse Inc., an animation and entertainment firm, resulting in its renaming to MultiMetaVerse Holdings Limited and continued listing on Nasdaq; prior to closing, it extended its combination period multiple times through 2022-2023, secured amendments to the merger agreement including an interest-free loan from the target, and managed significant shareholder redemptions while maintaining approximately $23.4 million in its trust account. No further major acquisitions, funding rounds, or strategic shifts have been announced since the merger completion.
Company News
Model Performance Acquisition Corp. Announces Pricing of $50 Million Initial Public Offering