MPAC SEC filings, in plain English
Everything Model Performance Acquisition Corp has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Model Performance Acquisition Corp. called a special meeting for December 20, 2022 at 9:30 a.m. Eastern Time at Loeb & Loeb LLP and by webcast, on its merger agreement dated August 6, 2021, amended January 6 and September 29, 2022, comprising a Reincorporation Merger and an Acquisition Merger with MMV. As of September 30, 2022 the Trust Account held approximately $23.4 million, and the Class A ordinary shares last traded at $10.50 on December 2, 2022. Aggregate consideration for the Acquisition Merger is $300,000,000. MPAC warrants entitle holders to buy a Class A share at $11.50. Why it matters: A $300,000,000 consideration against a $23.4 million trust means MPAC public holders end up with a small single-digit share of the combined company. The proxy also flags Holding Foreign Companies Accountable Act risk: if the PCAOB cannot fully inspect the auditors, Nasdaq may delist the securities, which is a listing risk that trust cash does not carry. Redemption at roughly the $10.50 market level is the certain alternative to both dilution and that regulatory exposure.
- What changed vs 2022-08-15trust $59.3M → $58.1M -2%deadline 2022-10-12 → 2023-04-12shares 5.75M → 2.24M -61%
trust account, combination deadline, redeemable shares +23 moved · 2 with no prior record of ours
- Trust account
- $59.3M$58.1M
- Combination deadline
- 2022-10-122023-04-12
- Redeemable shares
- 5.75M2.24M
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $200K · unchanged
SpacBrain reads this as $1,230,141 left the trust between the two filings.
The clause …“1 Level 2 Level 3 Total Asset: Marketable securities held in Trust Account $ 58,078,580 $ — $ — $ 58,078,580 Total Asset $ 58,078,580 $ — $ — $ 58,078,580 Liability: ”…
SpacBrain reads this as 182 days later than the previous record.
The clause …“However, there can be no assurance that we will be able to consummate any business combination by April 12, 2023. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial”…
SpacBrain reads this as 3,508,994 shares are no longer redeemable.
The clause “1, there were 350,000 Class A ordinary shares issued and outstanding, excluding 2,241,006 and 5,750,000 Class A ordinary shares subject to possible redemption, respectively. Class B Ordinary Shares —The Company is authorized to issue a”…
The clause …“to obtain additional financing in order to meet the obligations. This raises substantial doubt about the ability to continue as a going concern. In addition, in connection with the assessment of going concern considerations in”…
The clause …“bearing, unsecured and are due at the closing of the IPO. The Company had borrowed $ 200,000 under the promissory note and fully repaid as of August 24, 2021. As of September 30, 2022 and December 31, 2021, the Promissory Note was”…
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 2022-05-16trust $58.7M → $59.3M +1%deadline 2022-08-25 → 2022-10-12
trust account, combination deadline, going-concern doubt +22 moved · 3 with no prior record of ours
- Trust account
- $58.7M$59.3M
- Combination deadline
- 2022-08-252022-10-12
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $200K · unchanged
- Redeemable shares
- 5.75M · unchanged
SpacBrain reads this as $653,708 was added to the trust between the two filings.
The clause “9,811 49,253 Total current assets 821,895 386,105 Marketable securities held in Trust Account 59,308,721 58,078,580 Total Assets $ 60,130,616 $ 58,464,685 Liabilities and Shareholders' Deficit Accrued offering”…
SpacBrain reads this as 48 days later than the previous record.
The clause …“However, there can be no assurance that we will be able to consummate any business combination by October 12, 2022. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The financial”…
The clause …“business combination not occur, and potential subsequent dissolution, raises substantial doubt about the ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities should the”…
The clause …“bearing, unsecured and are due at the closing of the IPO. The Company had borrowed $ 200,000 under the promissory note and fully repaid as of August 24, 2021. As of June 30, 2022 and December 31, 2021, the Promissory Note was”…
The clause …“there were 350,000 and 350,000 Class A ordinary shares outstanding, excluding 5,750,000 and 5,750,000 Class A ordinary shares subject to possible redemption. Class B Ordinary Shares —The Company is authorized to issue a total of”…
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 2021-11-23trust $58.1M → $58.7M +1%deadline 2022-04-12 → 2022-08-25
trust account, combination deadline, sponsor loans outstanding +22 moved · 3 with no prior record of ours
- Trust account
- $58.1M$58.7M
- Combination deadline
- 2022-04-122022-08-25
- Sponsor loans outstanding
- not previously extracted$200K
- Going-concern doubt
- stated · unchanged
- Redeemable shares
- 5.75M · unchanged
SpacBrain reads this as $577,881 was added to the trust between the two filings.
The clause …“386,105 Prepaid expenses, Non-Current 10,018 — Marketable securities held in Trust Account 58,655,013 58,078,580 Total Assets $ 59,574,936 $ 58,464,685 Liabilities and Shareholders' Equity (Deficit) Accrued”…
SpacBrain reads this as 135 days later than the previous record.
The clause “$3,250,000 (the “No-Deal Payment”); and ● in the event that the closing of the Business Combination fails to occur on or prior to August 25, 2022, within five (5) business days after the Company’s receipt of relevant account details, MMV”…
The clause …“bearing, unsecured and are due at the closing of the IPO. The Company had borrowed $ 200,000 under the promissory note and fully repaid as of August 24, 2021. As of March 31, 2022 and December 31, 2021, the Promissory Note was”…
The clause …“significant costs in pursuit of its acquisition plans. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of time within one year after the date that the financial statements”…
The clause …“31, 2021, there were 350,000 Class A ordinary shares outstanding, excluding 5,750,000 Class A ordinary shares subject to possible redemption. Class B Ordinary Shares —The Company is authorized to issue a total of 10,000,000 Class B”…
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.
In plain English
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.
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.
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.