Carey Olsen advises on US$115 million SPAC IPO on Nasdaq
Carey Olsen's corporate team in the Cayman Islands has advised Emmis Acquisition Corp., a special purpose acquisition company (SPAC), on its initial public offering (IPO) on the Nasdaq Global Market (Nasdaq).
The SPAC intends to concentrate its efforts in identifying businesses in the industrial and business services, manufacturing, transportation, distribution and/or technology sectors. The Company’s units began trading on 25 September 2025 on the Nasdaq under the ticker symbol "EMISU".
On 24 September 2025, Emmis Acquisition Corp. announced the closing of its IPO of 10,000,000 units, plus an additional 1,500,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of US$115 million.
Emmis Acquisition Corp.'s management team is led by Peter Goldstein, its Chief Executive Officer and Director, and David Lowenstein, its Chief Financial Officer and Director. In addition, the Board includes Anna C Mallon, Low Koon Poh, and Seth Farbman.
Working alongside lead counsel Sichenzia Ross Ference Carmel LLP, the Carey Olsen team advising the SPAC on the Cayman legal and regulatory aspects of the IPO comprised partner Dylan Wiltermuth and associate Nich Vasic. I-Bankers Securities, Inc. and IB Capital LLC acted as book-running managers for the offering.
Dylan Wiltermuth, Carey Olsen partner said: "It was a pleasure to bring together our extensive capital markets capabilities and experience advising on SPAC listings to assist Emmis Acquisition Corp. on this IPO. The deal is also the latest example of the Cayman Islands' continuing appeal as a leading jurisdiction for New York listed SPACs."
