IPOs

Emmis Communications' SPAC Monument Circle Acquisition prices upsized $218 million IPO

Monument Circle Acquisition, a blank check company formed by Emmis Communications targeting media and entertainment, raised $218 million by offering 21.8 million units at $10. The company offered 1.8 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

The company is led by CEO and Chairman Jeffrey Smulyan, who founded Emmis Communications (Nasdaq: EMMS) in 1979 and serves as CEO and Chairman. He is joined by CFO Ryan Hornaday and COO and Director Patrick Walsh, who serve in the same respective roles at Emmis Communications. Monument Circle Acquisition plans to capitalize on its management's expertise and focus on businesses in the media, technology, sports, and entertainment sectors.

Monument Circle Acquisition plans to list on the Nasdaq under the symbol MONCU. Cantor Fitzgerald and Moelis & Company acted as lead managers on the deal.

The article Emmis Communications' SPAC Monument Circle Acquisition prices upsized $218 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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