The Music Acquisition Corporati
TMAC-WT
New York Stock Exchange0.00
USD
-0.05
- -
CIK
0001835236
Return %
Stock
S&P500
1Y
-98.62
18.21
3Y
-98.62
63.29
5Y
-98.62
74.90
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.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001835236
- Similar Companies
- Business
- The Music Acquisition Corporation (TMAC-WT) operates as a blank check company, or special purpose acquisition company (SPAC), focused on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the music sector; target areas include audio content serving creators, IP owners, and consumers for content discovery and monetization, technology such as royalty-free sample libraries, music catalog analysis tools, data science platforms, blockchain, and AI-driven solutions, social media platforms akin to TikTok or Triller, and consumer products like audio hardware or fitness-integrated music devices. Incorporated in 2020 and headquartered in Hollywood, California, the company raised approximately $200 million in its February 2021 initial public offering on the New York Stock Exchange, with units trading under TMAC.U and separate Class A common stock and warrants under TMAC and TMAC-WT, respectively. It serves investors seeking exposure to music industry opportunities across content, technology, social, and consumer segments, primarily targeting the U.S. market but with potential for global music-related targets. In December 2022, the company underwent significant liquidation and delisting after failing to complete an initial business combination within the required timeframe stipulated by its amended and restated certificate of incorporation; all outstanding public shares were redeemed at approximately $10.05 per share, totaling over 22 million shares, with trading of its securities suspended and delisted from the NYSE on December 2, 2022. This followed a November 2022 shareholder vote to amend its charter and accelerate dissolution, influenced by factors including the U.S. SEC's enhanced disclosure rules for SPACs, President Biden's Inflation Reduction Act imposing a 1% excise tax on certain redemptions after December 31, 2022, and market challenges that rendered a timely merger unlikely by the original February 2023 deadline. No merger, acquisition, or strategic alliance was consummated, resulting in the warrants (TMAC-WT) expiring worthless upon liquidation of the trust account, with no further operations post-redemption.