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.
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
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Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....