Mudrick Capital Acquisition Corp. II
MUDS · 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, listed on Nasdaq in December 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
- 9 December 2020
- size not on file · 101.5% of each $10 unit into trust
- Headquarters
- 527 MADISON AVENUE 6TH FLOOR, NEW YORK, NY, 10022
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Pietroforte Matthew (Director) · Kasen Scott (Director) · Stogsdill Dennis (Chief Financial Officer)
- Listed securities
- MUDS 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.
- 9 December 2020IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsMUDS 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 — 294 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
Mudrick Capital Acquisition Corp. II was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker MUDS. The company priced its initial public offering on December 9, 2020, under SEC file number 333-249402, registering shares for cash. The registrant was classified under SEC SIC industry code 5900 (Retail-Miscellaneous Retail) and described itself as a blank check company in its 424B4 prospectus. On September 2, 2022, the company filed an 8-K announcing it would redeem all outstanding shares of Class A common stock, effective as of the close of business on September 12, 2022, because it would not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation. The company subsequently liquidated and returned 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.
Topps stockholders receive four separate entitlements, only one of which is the headline: a pro rata portion of the Closing Merger Consideration, the Earnout Consideration, rights to proceeds that could become payable under a Tax Receivable Agreement, and rights to the Refund Consideration. The former equityholders of Holdings become stockholders of the post-combination company. August 25, 2021 is the date this version fixes, and it is the date a MUDS holder must act by.
The Closing Merger Consideration is $1,227,000,000 less Topps's Closing Net Indebtedness, less both sides' transaction expenses capped at $50,000,000 in aggregate and $25,000,000 for MUDS alone, and less any remaining amounts payable under an affiliated contract being terminated. Topps stockholders also receive Earnout Consideration, rights under a Tax Receivable Agreement and Refund Consideration, so what they take is not confined to the closing number. The cash portion draws on the trust after redemptions plus the PIPE, so redemptions reduce it against a fixed total.
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 2022-05-12trust $321.0M → $321.3M +0%deadline 2022-09-10 → 2022-12-10
trust account, combination deadline, going-concern doubt2 moved · 1 with no prior record of ours
- Trust account
- $321.0M$321.3M
- Combination deadline
- 2022-09-102022-12-10
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $239,233 was added to the trust between the two filings.
The clause “Prepaid expenses 81,208 82,708 Total Current Assets 200,172 221,394 Investments held in Trust Account 321,283,642 321,039,924 TOTAL ASSETS $ 321,483,814 $ 321,261,318 LIABILITIES, CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION AND”…
SpacBrain reads this as 91 days later than the previous record.
The clause …“(the “Extension”) for an additional three months, from September 10, 2022 to December 10, 2022 (the “Extended Termination Date”) (the “Charter Amendment Proposal”) and (ii) a proposal to approve the adjournment of the special meeting”…
The clause …“acceptable terms, if at all. In connection with the Company’s assessment of going concern considerations in accordance with FASB’s Accounting Standards Update (“ASU”) 2014-15,“Disclosures of Uncertainties about an Entity’s Ability to”…
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 vs 2021-11-10trust $321.0M → $321.0M +0%deadline 2022-12-10 → 2022-09-10
trust account, combination deadline, going-concern doubt2 moved · 1 with no prior record of ours
- Trust account
- $321.0M$321.0M
- Combination deadline
- 2022-12-102022-09-10
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $25,114 was added to the trust between the two filings.
The clause …“expenses 112,958 82,708 Total Current Assets 156,726 221,394 Investments held in Trust Account 321,044,409 321,039,924 TOTAL ASSETS $ 321,201,135 $ 321,261,318 LIABILITIES, CLASS A COMMON STOCK SUBJECT TO POSSIBLE REDEMPTION AND”…
SpacBrain reads this as 91 days earlier than the previous record.
The clause “Concern,” management has determined that if our company is unable to complete a business combination by September 10, 2022, then the Company will cease all operations except for the purpose of liquidating. The date for mandatory”…
The clause …“acceptable terms, if at all. In connection with the Company’s assessment of going concern considerations in accordance with FASB’s Accounting Standards Update (“ASU”) 2014-15, “Disclosures of Uncertainties about an Entity’s Ability to”…
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.
No sponsor entity is named in the filings parsed for this SPAC so far.
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/2 · 101.5% of the $10 unit
from 424B4 0001104659-20-133717
Trading & liquidity
Company profile
Directors & officers
- Pietroforte MatthewDirector
- Kasen ScottDirector
- Stogsdill DennisChief Financial Officer
- Spinger GlennChief Financial Officer
- Mudrick Jason10% owner
- Kushner BrianDirector
- Kirsch DavidDirector
- Danh VictorVice President
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
9 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.
- Mudrick Capital Acquisition Holdings II LLCwith 2 other reporting persons on the same schedule20.0% · SC 13GFeb 16, 2021 stale
- Saba Capital Management, L.P.with 1 other reporting person on the same schedule7.7% · SC 13G/AFeb 14, 2022 stale
- CITADEL ADVISORS LLCwith 5 other reporting persons on the same schedule4.7% · SC 13G/AFeb 16, 2021 stale
- BASSO CAPITAL MANAGEMENT, L.P.with 3 other reporting persons on the same schedule3.1% · SC 13G/AFeb 11, 2022 stale
- ARISTEIA CAPITAL LLC2.0% · SC 13G/AFeb 14, 2022 stale
- Sculptor Capital LP0.9% · SC 13G/AFeb 14, 2022 stale
- Anson Funds Management LPwith 5 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2023 stale
- VIKING GLOBAL INVESTORS LPwith 8 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2022 stale
- ADAGE CAPITAL PARTNERS GP, L.L.C.with 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 10, 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 — MUDS (Mudrick Capital Acquisition Corp. II)
vault-note · /vault/tickers/MUDS
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 trail1 internal entry
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 EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 5900 (Retail-Miscellaneous Retail). The screen found it by filing SHAPE instead — S-1 2020-10-09 → 8-A12B 2020-12-07 → 424B4 2020-12-09 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 5900 + self-described blank check in 424B4 0001104659-20-133717; 424B 0001104659-20-133717 priced 2020-12-09 under S-1 0001104659-20-113878 (file 333-249402, an offering for cash); common ticker MUDS off 8-K 0001193125-22-237991 (2022-09-02); lifecycle EXITED. The pricing prospectus was filed under SEC file number 333-249402, which belongs to S-1 0001104659-20-113878 (2020-10-09) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2020-12-09). Ending PROVEN, not inferred: LIQUIDATED per 8-K 0001193125-22-237991 (2022-09-02) — announced redemption of all public shares: “…will redeem all of its outstanding shares of Class A common stock, par value $0.0001, effective as of the close of business on September 12, 2022, because the Company will not consummate an initial business combination within the time period required by its Amended and Restated Certificate of Incorporation. A copy of t…”. 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.