Monument Circle Acquisition, a blank check company formed by Emmis Communications targeting media and entertainment, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The Indianapolis, IN-based company plans to raise $200 million by offering 20 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Monument Circle Acquisition will command a market value of $250 million.
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 was founded in 2020 and plans to list on the Nasdaq under the symbol MONCU. The company filed confidentially on October 22, 2020. Cantor Fitzgerald and Moelis & Company are the joint bookrunners on the deal.
