Emmis Acquisition Corp. will separate units into Class A shares and rights on October 22, 2025, trading separately on Nasdaq.
Quiver AI Summary
Emmis Acquisition Corp. announced that beginning October 22, 2025, its units will cease trading, and the Company’s Class A ordinary shares and rights will be traded separately on the Nasdaq Global Market under the symbols "EMIS" and "EMISR," respectively. This separation is automatic, requiring no action from unit holders, and each unit will convert into one Class A ordinary share and one right. The rights will allow holders to receive one-tenth of a Class A share upon the closing of the Company’s initial business combination. Fractional shares will not be issued, and must be managed under Cayman Islands law. Additionally, any units purchased after market close on October 15, 2025, may have rights that do not reflect the underlying shares. Emmis Acquisition Corp. aims to engage in business combinations across various sectors, focusing on industrial and business services, manufacturing, transportation, and technology.
Potential Positives
- The separation of units into Class A ordinary shares and rights allows for more straightforward trading on the Nasdaq Global Market with specific ticker symbols, potentially increasing investor interest.
- The automatic and mandatory nature of the separation means unit holders will receive shares and rights without needing to take any action, enhancing shareholder convenience and satisfaction.
- This separation could improve liquidity for investors, making it easier to buy and sell shares and rights independently.
Potential Negatives
- The announcement that the Company's units will no longer trade may indicate a lack of investor interest or confidence in the unit structure.
- The mandatory and automatic separation of units could lead to confusion among investors, particularly those unfamiliar with the process, potentially impacting trading volume and shareholder satisfaction.
- The stipulation that fractional shares will not be issued could disadvantage small investors, as they may miss out on receiving shares unless they hold ten rights, thus limiting accessibility.
FAQ
When will Emmis Acquisition Corp.'s units stop trading?
Effective October 22, 2025, Emmis Acquisition Corp.'s units will no longer trade.
What will replace the trading of the units?
The trading will be replaced by separate listings for Class A ordinary shares and rights, with tickers "EMIS" and "EMISR".
Do unit holders need to take any action during the separation?
No action is required by unit holders as the separation is mandatory and automatic.
What do rights entitle holders to in this separation?
Each right entitles the holder to receive one-tenth (1/10) of a Class A ordinary share upon the initial business combination.
What happens to fractional shares during the conversion of rights?
No fractional shares will be issued; they will be rounded down or addressed per Cayman Islands law.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
Full Release
New York, NY, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Emmis Acquisition Corp. (NASDAQ: EMISU) (the “Company”) announced today that, effective as of October 22, 2025, the Company’s units will no longer trade, and that the Company’s Class A ordinary shares and rights, which together comprise the units, will commence trading separately. The Class A ordinary shares and rights will be listed on the Nasdaq Global Market and trade with the ticker symbols “EMIS” and “EMISR”, respectively. This is a mandatory and automatic separation, and no action is required by the holders of units.
Each unit consists of one Class A ordinary share and one right. Each right entitles the holder to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of the Company’s initial business combination. In the separation, unit owners will receive the number of Class A ordinary shares underlying their units and the number of rights underlying such units. No fractional shares will be issued upon conversion of any rights and instead, fractional shares will either be rounded down to the nearest whole share or otherwise addressed in accordance with the applicable provisions of Cayman Islands law and our amended and restated memorandum and articles of association. Accordingly, a holder must have 10 rights to receive one Class A ordinary share at the closing of the Company’s initial business combination.
Purchases of units that are made after market close on October 15, 2025, may not settle prior to the unit separation date and, accordingly, the number of rights issued to such purchasers may not reflect the rights underlying such recently purchased units.
About Emmis Acquisition Corp.
Emmis Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution but will focus on industrial and business services, manufacturing, transportation, and/or distribution and/or technology sectors.
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the prospectus used in connection with the Company’s initial public offering. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.
Contact:
Emmis Acquisition Corp.
Investor Relations
Allison Tomek
Equilitix
[email protected]
