E.Merge Technology Acquisition Corp.
ETAC · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. There is no deadline left to miss.
Cash at settlement
The last figure filed while this was still a SPAC.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from E.Merge Technology Sponsor LLC, listed on Nasdaq in August 2020.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 3 August 2020
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 533 AIRPORT BLVD SUITE 400, BURLINGAME, CA, 94010
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Fletcher Steven C. · CLARKE JEFF (Co-CEO, CFO) · VIEUX ALEX SERGE
- Listed securities
- ETAC common
As last filed, 22 August 2022. That was the account's last filed value before it was settled — the company does not hold it now.
source: 8-K acc 0001193125-22-226493
At the 28 June 2022 event.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
- $10.06 a share is the last cash figure filed while this was still a SPAC. It is a record of what the account held, not money anyone can ask for now.
What has happened, and what is coming
2 dated milestonesEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 3 August 2020IPOpassed
IPO size not on file
redemption rate not stated in the filing
Who has already taken their money back
1 filed eventEach time shareholders were offered their cash back, some took it. Heavy cash-outs drain the account and shrink the number of shares left — whatever remains has to carry the deal.
Worst single event
—
no filing states a pre-event share count
Shares redeemed, all events
27.22M
across every filed redemption event
Every figure below is stated in the linked filing; nothing here is estimated.
- Jun 28, 2022Extensionno rate stated
The score
deterministic, from filed fieldsETAC is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
E.Merge Technology Acquisition Corp. was a blank-check company classified under SEC SIC industry code 6770 and registered under SEC CIK 0001814728, whose common stock traded on the Nasdaq Stock Market under the ticker ETAC. The company priced its initial public offering on August 3, 2020, per 424B prospectus 0001213900-20-019946, with unit terms including one warrant, a trust per unit of $10, and a deadline of 24 months. On August 22, 2022, the company filed an 8-K, accession number 0001193125-22-226493, announcing the redemption of all outstanding public shares at a per-share redemption price of approximately $10.06. As of the close of business on September 4, 2022, the public shares were deemed cancelled, and the company liquidated, returning the trust cash to shareholders.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
A $0.035 per-share contribution for a three-month extension is roughly a third of a percent of a $10 share, so waiting adds almost nothing to the redemption floor. The sponsor's 15,000,000 founder shares recover nothing in a liquidation, which explains why it will fund even a token amount rather than let the vehicle wind up. Public holders retain the redemption right at pro rata trust value regardless of how they vote, and the June 24 tender deadline is the hard cut-off for exercising it.
Gives the completed trust figure the IPO report could not: $600,000,000 across 60,000,000 public units. The filing states the initial $522,000,000 comprised $510,000,000 of IPO proceeds including $18,270,000 of underwriters' deferred discount plus the $12,000,000 of private placement money, so part of the headline balance is a fee payable at a business combination. The over-allotment was 7,800,000 of the 7,830,000 units available.
The composition is the detail worth having: the $18,270,000 deferred underwriting discount sits inside the $522,000,000 trust rather than outside it, so the headline trust figure is not all available to the company at closing. The sponsor's $12,000,000 of private placement units is what tops the trust up to $10.00 per public share. The balance sheet itself is in the exhibit and was not read for this summary, so only the figures stated in the report's own text are asserted here.
The sponsor's at-risk capital here is in units, not warrants: $12,000,000 of private placement units identical to the public units, which is a larger and more equity-like commitment than the warrant purchases most 2020 SPACs used. Warrant coverage to the public is one third per unit. The administrative support agreement runs to First In Line Enterprises, Inc., an affiliate of members of the sponsor, so the overhead payment is a related-party arrangement from day one. No target or deadline is stated.
The deferred underwriting is not one rate: base units carry $0.35 and over-allotment units carry $0.55, so the amount sitting in the trust that belongs to the underwriters rather than to holders depends on how much of the over-allotment was taken. The $18.00 call test also has a start date - the 30-trading-day window begins only once the warrants become exercisable - so price action before exercisability cannot count toward it. Charter amendments need 65% of the common stock; the warrant agreement is a separate vote.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
- What changed vs 2022-05-13trust $600.0M → $601.9M +0%deadline 2022-08-04 → 2022-11-04shares 60.0M → 32.8M -45%
trust account, combination deadline, redeemable shares +33 moved · 3 with no prior record of ours
- Trust account
- $600.0M$601.9M
- Combination deadline
- 2022-08-042022-11-04
- Redeemable shares
- 60.0M32.8M
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $270K · unchanged
- Mandate language
- the Company intends to focus its search on companies in the … · unchanged
SpacBrain reads this as $1,897,272 was added to the trust between the two filings.
The clause “8 of cash from operating activities. As of June 30, 2022, we had investments of $601,933,594 held in the Trust Account. We intend to use substantially all of the funds held in the Trust Account, including any amounts representing interest”…
SpacBrain reads this as 92 days later than the previous record.
The clause …“loan us funds as may be required. The Company intends to complete an initial Business Combination by November 4, 2022. However, in the absence of a completed business combination, we may require additional capital. If we are unable to”…
SpacBrain reads this as 27,222,020 shares are no longer redeemable.
The clause …“and outstanding (excluding 27,222,020 and 0 mandatorily redeemable shares and 32,777,980 and 60,000,000 shares subject to possible redemption) as of June 30, 2022 and December 31, 2021, respectively 120 120 Class B common stock, $”…
The clause …“Business Combination not occur, and potential subsequent dissolution raises substantial doubt about our ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should we”…
The clause …“December 31, 2020 and (ii) the completion of the Initial Public Offering. The outstanding balance under the Promissory Note of $ 270,000 was repaid upon the consummation of the Initial Public Offering on August 4, 2020. Advance from”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
Show the other 10 filings
What changed: E.Merge Technology Acquisition Corp. called a special meeting for June 28, 2022 at 9:00 a.m. Eastern to extend the deadline to complete a business combination, redeem the public shares and dissolve from August 4, 2022, two years after its IPO, to November 4, 2022 or an earlier date the board determines. Sponsor E.Merge Technology Sponsor LLC owns 15,000,000 Class B founder shares. If the extension passes the sponsor or its designees will contribute as a loan $0.035 for each unredeemed public share. Redemption requires tender to the transfer agent by June 24, 2022. Why it matters: A $0.035 per-share contribution for a three-month extension is roughly a third of a percent of a $10 share, so waiting adds almost nothing to the redemption floor. The sponsor's 15,000,000 founder shares recover nothing in a liquidation, which explains why it will fund even a token amount rather than let the vehicle wind up. Public holders retain the redemption right at pro rata trust value regardless of how they vote, and the June 24 tender deadline is the hard cut-off for exercising it.
- What changed vs 2021-11-05trust $600.1M → $600.0M -0%
trust account, sponsor loans outstanding, combination deadline +31 moved · 5 with no prior record of ours
- Trust account
- $600.1M$600.0M
- Sponsor loans outstanding
- not previously extracted$270K
- Combination deadline
- 2022-08-04 · unchanged
- Going-concern doubt
- stated · unchanged
- Mandate language
- the Company intends to focus its search on companies in the … · unchanged
- Redeemable shares
- 60.0M · unchanged
SpacBrain reads this as $67,074 left the trust between the two filings.
The clause …“132,044 84,887 Total Current Assets 278,169 312,923 Cash and investments held in Trust Account 600,036,322 600,134,437 TOTAL ASSETS $ 600,314,491 $ 600,447,360 LIABILITIES, CLASS A COMMON STOCK SUBJECT TO REDEMPTION AND”…
The clause …“December 31, 2020 and (ii) the completion of the Initial Public Offering. The outstanding balance under the Promissory Note of $ 270,000 was repaid upon the consummation of the Initial Public Offering on August 4, 2020. Advance from”…
The clause …“under any working capital loan. The Company intends to complete an initial business combination by August 4, 2022. However, in the absence of a completed business combination, we may require additional capital. If we are unable to”…
The clause …“a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause “0,000,000 shares authorized; 1,200,000 shares issued and outstanding (excluding 60,000,000 shares subject to possible redemption) as of March 31, 2022 and December 31, 2021 120 120 Class B common stock, $ 0.0001 par value; 20,000,000”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-03-31trust $600.1M → $600.1M +0%going concern APPEAREDshares 57.4M → 60.0M +5%
trust account, going-concern doubt, redeemable shares +33 moved · 3 with no prior record of ours
- Trust account
- $600.1M$600.1M
- Going-concern doubt
- not statedstated
- Redeemable shares
- 57.4M60.0M
- Combination deadline
- 2022-08-04 · unchanged
- Sponsor loans outstanding
- $270K · unchanged
- Mandate language
- we are focusing our search for an initial business combinati… · unchanged
SpacBrain reads this as $15,128 was added to the trust between the two filings.
The clause …“84,887 243,120 Total Current Assets 312,923 1,192,972 Cash and investments held in Trust Account 600,134,437 600,119,309 TOTAL ASSETS $ 600,447,360 $ 601,312,281 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accounts”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a going concern, since we will cease all operations except for the purpose of liquidating if we are unable”…
SpacBrain reads this as 2,649,033 more shares carry a redemption right.
The clause “0,000 shares issued and outstanding as of December 31, 2021 and 2020 (excluding 60,000,000 shares subject to possible redemption) 120 120 Class B common stock, $ 0.0001 par value; 20,000,000 shares authorized; 15,000,000 shares issued and”…
The clause …“the Business Combination. Going Concern The Company intends to complete a Business Combination by August 4, 2022. However, in the absence of a completed Business Combination, the Company may require additional capital. If the”…
The clause …“December 31, 2020 and (ii) the completion of our initial public offering. The outstanding balance under the promissory notes of $270,000 was repaid upon the consummation of our initial public offering on August 4, 2020. In addition, in”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
E.Merge Technology Sponsor LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
Unit: U = S + W · 100.0% of the $10 unit
from 424B4 0001213900-20-019946
Trading & liquidity
Company profile
Directors & officers
- Fletcher Steven C.10% owner
- CLARKE JEFFCo-CEO, CFO
- VIEUX ALEX SERGE10% owner
- Reitzes Benjamin AlexanderDirector
- Hermand MorganDirector
- SINGH SUDHIR STEVENDirector
- Zhang ShuoDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
4 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- E.Merge Technology Sponsor LLCwith 4 other reporting persons on the same schedule21.3% · SC 13D/ASep 14, 2020 stale
- ARISTEIA CAPITAL LLC5.5% · SC 13GFeb 14, 2022 stale
- Linden Capital L.P.with 2 other reporting persons on the same schedule5.4% · SC 13G/AJan 31, 2022 stale
- PERISCOPE CAPITAL INC.4.0% · SC 13G/AFeb 14, 2022 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
39 full SEC filing texts archived — searchable, never lost.
- Vault note — ETAC (E.Merge Technology Acquisition Corp.)
vault-note · /vault/tickers/ETAC
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail2 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-20-019946 priced 2020-08-03; common ticker ETAC off 8-K 0001193125-22-226493 (2022-08-22); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001193125-22-226493 (2022-08-22) — announced redemption of all public shares: “…will redeem all of the outstanding shares of Class A common stock that were included in the units issued in its initial public offering (the " Public Shares "), at a per-share redemption price of approximately $10.06. As of the close of business on September 4, 2022, the Public Shares will be deemed cancelled and will…”. Trust at settlement $10.06/share, stated in that filing. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "E.Merge Technology Sponsor LLC" (SEC CIK 0001813908) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-20-019442.