Monument Circle Acquisition Corp.
MON · 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
No cash-per-share figure was filed for this vehicle before it finished.
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 Monument Circle Sponsor LLC, listed on Nasdaq in January 2021.
- 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
- 19 January 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- ONE EMMIS PLAZA, INDIANAPOLIS, IN, 46204
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- SMULYAN JEFFREY H (Chairman & CEO) · Walsh Patrick M (Director) · Rupe Chase (SVP, Strategy & Corp. Dev.)
- Listed securities
- MON common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
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.
What has happened, and what is coming
1 dated milestoneEvery 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.
- 19 January 2021IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsMON 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
Monument Circle Acquisition Corp. was a blank-check company whose common stock, warrants, and units traded on the Nasdaq Stock Market under the ticker MON. The company priced its initial public offering on January 19, 2021, as reflected in a 424B prospectus, and its common ticker MON appears on the cover page of an 8-K filed on December 21, 2022. Monument Circle Acquisition Corp. subsequently liquidated, winding up and returning trust cash to shareholders, with the termination established by a Form 25 filed on December 23, 2022, under 17 CFR 240.12d2-2(a)(1) for the redeemed Class A Common Stock, Warrant, and Unit classes. The company is identified under SEC CIK 0001828325 and SIC industry code 6770.
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.
The company's own arithmetic shows the flaw: because the monthly deposit is capped at $157,500, the per-share benefit falls to about $0.0378 in total if nobody redeems — under four cents for six months of waiting. The fewer holders who redeem, the less each receives. The Liquidation Amendment at least lets the board return capital early if no deal materialises, and Monument Circle ultimately liquidated.
The selected financial data table states the trust and the redeemable-share balance as literal zeros at 31 December 2020, which is correct for a shell three weeks before its float but reads as a wiped-out trust to anything scanning for a number. A January 2021 0.09-for-1 Class B dividend took founder shares to 6,267,500, restated retroactively. One text corruption: a Nasdaq-rule risk bullet reads 'has a 5% or greater interest earned on the trust account', with an unrelated clause spliced into the middle of the sentence.
The redemption price is stated net of 'permitted withdrawals' — interest taken from the trust to fund the company's taxes — both on a business-combination redemption, calculated two business days before consummation, and on a failure to close. The prospectus names the deadline a 'completion window' of 24 months from the closing of the offering, after which 100% of the public shares are redeemed at the trust amount net of permitted withdrawals and up to $100,000 of interest for dissolution expenses. The sponsor is an affiliate of Emmis Communications Corporation.
The redemption price is stated net of 'permitted withdrawals' — interest taken out of the trust to fund the company's taxes — both on a business-combination redemption, calculated two business days before consummation, and on a failure to close. The prospectus names the deadline a 'completion window' of 24 months from the closing of the offering, after which 100% of the public shares are redeemed at the trust amount net of permitted withdrawals and up to $100,000 of interest for dissolution expenses.
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: Monument Circle Acquisition Corp. called a special meeting in lieu of its 2022 annual meeting for December 14, 2022 at 10:00 a.m. Eastern Time by live webcast, to extend the deadline from January 19, 2023 to July 19, 2023 and, under a Liquidation Amendment, to let the Board wind up earlier at its sole discretion. The Sponsor intends to contribute monthly Loans of the lesser of $157,500 or $0.045 per unredeemed Public Share. With no redemptions and a July 19, 2023 completion the aggregate deposit would be approximately $0.0378 per share, a maximum contribution of $945,000. Why it matters: The company's own arithmetic shows the flaw: because the monthly deposit is capped at $157,500, the per-share benefit falls to about $0.0378 in total if nobody redeems — under four cents for six months of waiting. The fewer holders who redeem, the less each receives. The Liquidation Amendment at least lets the board return capital early if no deal materialises, and Monument Circle ultimately liquidated.
Show the other 10 filings
- What changed vs 2022-08-12trust $250.3M → $251.1M +0%deadline 2023-01-19 → 2023-07-19
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $250.3M$251.1M
- Combination deadline
- 2023-01-192023-07-19
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $300K · unchanged
- Redeemable shares
- 25.0Mnot matched in this filing
SpacBrain reads this as $855,864 was added to the trust between the two filings.
The clause …“expenses 110,729 173,519 Total current assets 252,228 780,774 Investments held in Trust Account 251,145,869 250,023,702 Total assets $ 251,398,097 $ 250,804,476 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accounts”…
SpacBrain reads this as 181 days later than the previous record.
The clause …“be required to consummate a business combination from January 19, 2023 to July 19, 2023, as well as to permit our board of directors, in its sole discretion, to elect to wind up our operations on an earlier date, including a date”…
The clause …“to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time, which is considered to be one year from the”…
The clause …“claims against the Company’s Trust Account. On April 25, 2022, the Company borrowed $ 300,000 from the Sponsor, the full amount available to it pursuant to the First Working Capital Loan. This amount remains outstanding at September”…
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 2022-05-13trust $250.0M → $250.3M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $250.0M$250.3M
- Combination deadline
- 2023-01-19 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $300K · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $244,015 was added to the trust between the two filings.
The clause …“expenses 205,206 173,519 Total current assets 224,526 780,774 Investments held in Trust Account 250,290,005 250,023,702 Total assets $ 250,514,531 $ 250,804,476 LIABILITIES AND STOCKHOLDERS’ DEFICIT Current liabilities Accounts”…
The clause …“Account with respect to the Founder Shares if the Company fails to complete a Business Combination by January 19, 2023 (the “Combination Period”) and (c) not to propose an amendment to the Certificate of Incorporation (i) to modify the”…
The clause …“to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time, which is considered to be one year from the”…
The clause …“claims against the Company’s T rust A ccount. On April 25, 2022, the Company borrowed $ 300,000 from the Sponsor, the full amount available to it pursuant to the First Working Capital Loan . This amount remains outstanding at June 30,”…
The clause …“value; 240,000,000 shares authorized; none issued or outstanding (excluding 25,000,000 shares subject to possible redemption at June 30, 2022 and December 31, 2021) — — Class B common stock, $ 0.0001 par value; 60,000,000 shares”…
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 2021-11-12trust $250.0M → $250.0M +0%going concern APPEAREDsponsor loan $100K → $300K
trust account, going-concern doubt, sponsor loans outstanding +23 moved · 2 with no prior record of ours
- Trust account
- $250.0M$250.0M
- Going-concern doubt
- not statedstated
- Sponsor loans outstanding
- $100K$300K
- Combination deadline
- 2023-01-19 · unchanged
- Redeemable shares
- 25.0M · unchanged
SpacBrain reads this as $28,591 was added to the trust between the two filings.
The clause …“173,519 Total current assets 379,084 780,774 Noncurrent assets Investments held in Trust Account 250,045,990 250,023,702 Total noncurrent assets 250,045,990 250,023,702 Total assets $ 250,425,074 $ 250,804,476 LIABILITIES AND”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“to it on commercially acceptable terms, if at all. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time, which is considered to be one year from the”…
SpacBrain reads this as the sponsor has advanced $200,000 more.
The clause “Loans outstanding. Subsequent to March 31, 2022, on April 13, 2022, the Company borrowed $ 300,000 from the Sponsor. See Note 11 for further details . NOTE 6. COMMITMENTS AND CONTINGENCIES Risks and Uncertainties Management continues to”…
The clause …“Account with respect to the Founder Shares if the Company fails to complete a Business Combination by January 19, 2023 (the “Combination Period”) and (c) not to propose an amendment to the Certificate of Incorporation (i) to modify the”…
The clause …“value; 240,000,000 shares authorized; none issued or outstanding (excluding 25,000,000 shares subject to possible redemption at March 31, 2022 and December 31, 2021) — — Class B common stock, $ 0.0001 par value; 60,000,000 shares”…
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 $8.8M → $250.0M +2757%going concern APPEARED
trust account, going-concern doubt, redeemable shares +22 moved · 3 with no prior record of ours
- Trust account
- $8.8M$250.0M
- Going-concern doubt
- not statedstated
- Redeemable shares
- not previously extracted25.0M
- Combination deadline
- 2023-01-19 · unchanged
- Sponsor loans outstanding
- $100K · unchanged
SpacBrain reads this as $241,273,702 was added to the trust between the two filings.
The clause “780,774 34,012 Noncurrent assets Deferred offering costs — 265,933 Investments held in Trust Account 250,023,702 — Total noncurrent assets 250,023,702 265,933 TOTAL ASSETS $ 250,804,476 $ 299,945 LIABILITIES AND STOCKHOLDERS' EQUITY”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“ceasing all operations except for the purpose of liquidating which may raise substantial doubt about the our ability to continue as a going concern; and • we have identified a material weakness in our internal controls relating to the”…
The clause …“value; 240,000,000 shares authorized; none issued or outstanding (excluding 25,000,000 shares subject to possible redemption) — — Class B common stock, $ 0.0001 par value; 60,000,000 shares authorized; 6,250,000 and 6,267,500 shares”…
The clause …“Account with respect to the Founder Shares if the Company fails to complete a Business Combination by January 19, 2023 and (c) not to propose an amendment to the Certificate of Incorporation (i) to modify the substance or timing of the”…
The clause …“fees and $579,577 of other offering costs. As of December 31, 2020, the outstanding balance under the loan from the sponsor was $100,000, which was repaid at the closing of the initial public offering on January 19, 2021. There”…
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.
Monument Circle 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 1283 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/2 · 100.0% of the $10 unit
from 424B4 0001104659-21-004870
Trading & liquidity
Company profile
Directors & officers
- SMULYAN JEFFREY HChairman & CEO
- Walsh Patrick MDirector
- Rupe ChaseSVP, Strategy & Corp. Dev.
- Keller TraugDirector
- GOLDSMITH STEPHENDirector
- GOLD STANLEY PDirector
- Hornaday Ryan AEVP, CFO & Treasurer
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
2 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.
- Monument Circle Sponsor LLCwith 2 other reporting persons on the same schedule19.8% · SC 13GFeb 11, 2022 stale
- Atalaya Capital Management LPwith 5 other reporting persons on the same schedule4.5% · 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 — MON (Monument Circle Acquisition Corp.)
vault-note · /vault/tickers/MON
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 trail3 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 0001104659-21-004870 priced 2021-01-19; common ticker MON off 8-K 0001213900-22-081546 (2022-12-21); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per Form 25 0001354457-22-000780 (2022-12-23) — Form 25 filed under 17 CFR 240.12d2-2(a)(1) — the rule for a class "called for redemption" or "redeemed or paid at maturity/retirement". For a SPAC that class is the public shares and that redemption is the trust going back (class: Class A Common Stock, Warrant, Unit). No wind-up press release was readable on the registrant's own file, so the per-share figure is not stored.. 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.
warrantStrike=11.5, unitSeparationDays=52 from the definitive prospectus (0001104659-21-004870). NOT FILLED: warrantCallPrice — no stated candidate; rightShareRatio — no stated candidate
sponsor "Monument Circle Sponsor LLC" sourced from prospectus definition (10-K) acc 0001104659-21-044836.