Model Performance (NASDAQ:MPAC) announced this morning that it has added a $12 million PIPE to its combination with MultiMetaVerse, bringing the total PIPE to $22 million.
The recent subscription agreement comes from Prominence Investment Management Ltd pursuant to which the investor has agreed to purchase an aggregate of 1,200,000 Class A Ordinary Shares of MPAC at a price per share of $10. The closing of the PIPE investment is conditioned upon, among other things, the completion of the transactions set forth in the merger agreement.
Model Performance inked its business combination with MultiMetaVerse in August of 2021. The SPAC raised $57.5 million in its April 2021 IPO and is set to finance the deal as a $300 million stock transaction at $10 per share.
The SPAC must maintain at least $20 million in cash available in order for the deal to close. MultiMetaVerse is a Hong Kong-based company with wholly owned subsidiaries Mi Ting Culture, Creativity Co. Ltd. and Shanghai Jupiter Creative Design Co. Ltd.
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...