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Capitalworks Emerging Markets Acquisition Corp - CMCA

  • Commons

    $10.03

    -0.64%

    CMCA Vol: 1.2K

  • Warrants

    $0.10

    +0.00%

    CMCAW Vol: 0.0

  • Units

    $10.01

    +0.00%

    CMCAU Vol: 0.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 229.5M
Average Volume: 252.6K
52W Range: $9.80 - $10.50
Weekly %: -0.30%
Monthly %: +0.10%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 213
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one redeemable warrant
Trust Size: 20000000.0M

Management

Officers and Directors Cayman Islands law does not limit the extent to which a company’s amended and restated memorandum and articles of association may provide for indemnification of executive officers and directors, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against willful default, fraud or the consequences of committing a crime. Our amended and restated memorandum and articles of association provide for indemnification of our executive officers and directors to the maximum extent permitted by law, including for any liability incurred in their capacities as such, except through their own actual fraud, willful default or willful neglect. We expect to purchase a policy of directors’ and officers’ liability insurance that insures our executive officers and directors against the cost of defense, settlement or payment of a judgment in some circumstances and insures us against our obligations to indemnify our executive officers and directors. Our executive officers and directors have agreed to waive any right, title, interest or claim of any kind in or to any monies in the trust account, and have agreed to waive any right, title, interest or claim of any kind they may have in the future as a result of, or arising out of, any services provided to us and will not seek recourse against the trust account for any reason whatsoever. Accordingly, any indemnification provided will only be able to be satisfied by us if (i) we have sufficient funds outside of the trust account or (ii) we consummate an initial business combination. Our indemnification obligations may discourage shareholders from bringing a lawsuit against our executive officers or directors. These provisions also may have the effect of reducing the likelihood of derivative litigation against our executive officers and directors, even though such an action, if successful, might otherwise benefit us and our shareholders. Furthermore, a shareholder’s investment may be adversely affected to the extent we pay the costs of settlement and damage awards against our executive officers and directors pursuant to these indemnification provisions. We believe that these provisions, the insurance and the indemnity agreements are necessary to attract and retain talented and experienced executive officers and directors. 135 TABLE OF CONTENTS​ PRINCIPAL SHAREHOLDERS The following table sets forth information regarding the beneficial ownership of our ordinary shares as of the date of this prospectus, and as adjusted to reflect the sale of our Class A ordinary shares included in the units offered by this prospectus, and assuming no purchase of units in this offering, by: • each person known by us to be the beneficial owner of more than 5% of our issued and outstanding ordinary shares; ​ • each of our executive officers, directors and director nominees; and ​ • all our executive officers, directors and director nominees as a group. ​ Unless otherwise indicated, we believe that all persons named in the table have sole voting and investment power with respect to all of our ordinary shares beneficially owned by them. The following table does not reflect record or beneficial ownership of the private placement warrants as these warrants are not exercisable within 60 days of the date of this prospectus. On May 12, 2021, our sponsor paid $25,000, or approximately $0.004 per share, to cover certain expenses on our behalf in consideration for an aggregate of 5,750,000 founder shares. The number of founder shares outstanding was determined based on the expectation that the total size of this offering would be a maximum of 23,000,000 units if the underwriters’ over-allotment option is exercised in full, and therefore that such founder shares would represent 20% of the outstanding shares after this offering. Up to 750,000 of the founder shares will be surrendered for no consideration depending on the extent to which the underwriters’ over-allotment is exercised. The post-offering percentages in the following table assume that the underwriters do not exercise their over-allotment option, that 750,000 founder shares have been surrendered to us for no consideration, and that there are 20,000,000 ordinary shares issued and outstanding after this offering. Name and Address of Beneficial Owner(1) ​ ​ Ordinary Shares Beneficially Owned ​ ​ Percentage of Class Outstanding (Before Offering) ​ ​ Percentage of Class Outstanding (After Offering) ​ CEMAC Sponsor LP(2) ​ ​ ​ ​ 5,750,000 ​ ​ ​ ​ ​ 100.0% ​ ​ ​ ​ ​ 20.0% ​ ​ Roberta Brzezinski ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ Herman G. Kotzé ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ Olivia Ouyang ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ Whitney Baker ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ Michael Faber ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ Neil Harper ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ Darius James Roth ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ All executive officers, directors and director nominees as a group (seven individuals) ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ * Less than one percent. ​ (1) Unless otherwise noted, the business address of each of our shareholders is 25 West 39th Street, Suite 700, New York, NY 10018. ​ (2) CEMAC Sponsor LP is the record holder of the shares reported herein. CEMAC Sponsor GP is the general partner of CEMAC Sponsor LP and has voting and investment discretion over the securities held by CEMAC Sponsor LP. Robert Oudhof is the sole director of CEMAC Sponsor GP and has voting and investment discretion over the securities held by CEMAC Sponsor GP. Robert Oudhof disclaims any beneficial ownership of the securities held by CEMAC Sponsor LP other than to the extent of any pecuniary interest he may have therein, directly or indirectly. Each member of our management team has a pecuniary interest in CEMAC Sponsor LP; however, those individuals do not exercise voting or dispositive control over any of the shares held by CEMAC Sponsor LP. Accordingly, none of them will be deemed to have or share beneficial ownership of such shares. ​ 136 TABLE OF CONTENTS Immediately after this offering, our initial shareholders will beneficially own 20% of the then issued and outstanding ordinary shares (assuming they do not purchase any units in this offering). Only holders of Class B ordinary shares will have the right to appoint directors to our board in any election held prior to or in connection with the completion of our initial business combination. Holders of our public shares will not have the right to appoint any directors to our board of directors prior to our initial business combination. Because of this ownership block, our initial shareholders may be able to effectively influence the outcome of all other matters requiring approval by our shareholders, including amendments to our amended and restated memorandum and articles of association and approval of significant corporate transactions including our initial business combination. Our sponsor has committed, pursuant to a written agreement, to purchase an aggregate of 10,500,000 private placement warrants (or 11,700,000 warrants if the underwriters’ over-allotment option is exercised in full), each exercisable to purchase one Class A ordinary share at $11.50 per share, at a price of $1.00 per warrant, or $10,500,000 in the aggregate (or $11,700,000 if the underwriters’ over-allotment option is exercised in full), in a private placement that will occur simultaneously with the closing of this offering. The private placement warrants will be identical to the warrants sold in this offering except that the private placement warrants, so long as they are held by our sponsor or its permitted transferees, (i) will not be redeemable by us, except as described under “Description of Securities—Warrants—Public Warrants—Redemption of warrants when the price per Class A ordinary share equals or exceeds $10.00,” ​(ii) may not (including the Class A ordinary shares issuable upon exercise of these warrants), subject to certain limited exceptions, be transferred, assigned or sold by the holders until 30 days after the completion of our initial business combination, (iii) may be exercised by the holders on a cashless basis and (iv) will be entitled to registration rights. The private placement warrants may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder. A portion of the purchase price of the private placement warrants will be added to the proceeds from this offering to be held in the trust account such that at the time of closing of this offering $204,000,000 (or $234,600,000 if the underwriters exercise their over-allotment option in full) will be held in the trust account. If we do not complete our initial business combination within 15 months from the closing of this offering (or 18 months from the closing of this offering if the period of time to consummate a business combination is extended), the private placement warrants will expire worthless. The private placement warrants are subject to the transfer restrictions described below. Our sponsor and our executive officers and directors are deemed to be our “promoters” as such term is defined under the federal securities laws. Prior to this offering, we entered into a forward purchase agreement between us and the forward purchase investor, pursuant to which the forward purchase investor has agreed to purchase, or procure the purchase by a subsidiary or affiliate, of the forward purchase units. The forward purchase agreement entered into with the forward purchase investor provides that the forward purchaser investor or a subsidiary or affiliate thereof, will purchase $20.0 million of forward purchase units consisting of one forward purchase share and one-half of one forward purchase warrant for $10.00 per forward purchase unit, in a private placement that will close substantially concurrently with the closing of our initial business combination. The forward purchase investor has agreed that the forward purchaser will not redeem any Class A ordinary shares held by it in connection with the initial business combination. Each whole forward purchase warrant is exercisable to purchase one Class A ordinary share at $11.50 per share. The forward purchase warrants will have the same terms as the public warrants and the forward purchase shares will be identical to the Class A ordinary shares included in the public units being sold in this offering, except the forward purchase shares will be subject to transfer restrictions and certain registration rights and the forward purchase units will consist of only one-half of one forward purchase warrant. The purchase of the forward purchase securities will be made regardless of whether any of our Class A ordinary shares are redeemed by our public shareholders and are intended to provide us with a minimum funding level for our initial business combination. The proceeds from the sale of forward purchase securities may be used as part of the consideration to the sellers in our initial business combination, expenses in connection with our initial business combination and for working capital in the post-transaction company. See “Description of Securities—Forward Purchase Agreement.” The forward purchaser will not have any right to the funds held in the trust account except with respect to any public shares owned by it. 137 TABLE OF CONTENTS Transfers of Founder Shares and Private Placement Warrants Our sponsor and each member of our management team have agreed not to transfer, assign or sell any of their founder shares until the earlier to occur of: (i) one year after the completion of our initial business combination or (ii) the date following the completion of our initial business combination on which we complete a liquidation, merger, share exchange or other similar transaction that results in all of our shareholders having the right to exchange their ordinary shares for cash, securities or other property. Notwithstanding the foregoing, if the closing price of our Class A ordinary shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after our initial business combination, the founder shares will be released from the lockup. The private placement warrants (including the Class A ordinary shares issuable upon exercise of the private placement warrants) will not be transferable, assignable or salable until 30 days after the completion of our initial business combination (except as described under “Principal Shareholders—Transfers of Founder Shares and Private Placement Warrants,” to our executive officers and directors and other persons or entities affiliated with our sponsor or its permitted transferee) and they will not be redeemable by us so long as they are held by our sponsor or its permitted transferee. Our sponsor or its permitted transferees have the option to exercise the private placement warrants on a cashless basis. Registration Rights Our sponsor, directors and executive officers will have rights to require us to register any of our securities held by them for resale under the Securities Act pursuant to a registration rights agreement to be signed prior to or on the effective date of this offering. These holders will be entitled to make up to three demands, excluding short form registration demands, that we register such securities for sale under the Securities Act. In addition, holders of the founder shares, private placement warrants and warrants that may be issued upon conversion of working capital loans or extension loans (and any shares of Class A ordinary shares issuable upon the exercise of the private placement warrants and warrants that may be issued upon conversion of working capital loans or extension loans and upon conversion of the founder shares) will have certain “piggy-back” registration rights with respect to registration statements filed subsequent to our completion of our initial business combination and rights to require us to register for resale such securities pursuant to Rule 415 under the Securities Act. We will bear the expenses incurred in connection with the filing of any such registration statements. 138 TABLE OF CONTENTS​ DESCRIPTION OF SECURITIES We are a Cayman Islands exempted Company (company number 374585) and our affairs are governed by our amended and restated memorandum and articles of association, the Companies Act and the common law of the Cayman Islands. Pursuant to our amended and restated memorandum and articles of association which will be adopted upon the consummation of this offering, we will be authorized to issue 500,000,000 Class A ordinary shares, $0.0001 par value each, 50,000,000 Class B ordinary shares, $0.0001 par value each, and 5,000,000 preference shares, $0.0001 par value each. The following description summarizes certain terms of our shares as set out more particularly in our memorandum and articles of association. Because it is only a summary, it may not contain all the information that is important to you. Units Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-half of one warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to adjustment as described in this prospectus. Pursuant to the warrant agreement, a warrant holder may exercise its warrants only for a whole number of the Company’s Class A ordinary shares. This means only a whole warrant may be exercised at any given time by a warrant holder. The Class A ordinary shares and warrants comprising the units are expected to begin separate trading on the 52nd day following the date of this prospectus unless the representative of the underwriters inform us of its decision to allow earlier separate trading, subject to our having filed the Current Report on Form 8-K described below and having issued a press release announcing when such separate trading will begin. Once the Class A ordinary shares and warrants commence separate trading, holders will have the option to continue to hold units or separate their units into the component securities. Holders will need to have their brokers contact our transfer agent in order to separate the units into Class A ordinary shares and warrants. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Accordingly, unless you purchase at least two units, you will not be able to receive or trade a whole warrant. In no event will the Class A ordinary shares and warrants be traded separately until we have filed with the SEC a Current Report on Form 8-K which includes an audited balance sheet reflecting our receipt of the gross proceeds of this offering. We anticipate filing such Current Report on Form 8-K four business days from the closing of the offering. If the underwriters’ over-allotment option is exercised following the initial filing of such Current Report on Form 8-K, a second or amended Current Report on Form 8-K will be filed to provide updated financial information to reflect the exercise of the underwriters’ over-allotment option. Ordinary Shares Prior to the date of this prospectus, there were 5,750,000 Class B ordinary shares issued and outstanding, all of which were held of record by our initial shareholders. Upon the closing of this offering, 25,000,000 ordinary shares will be outstanding (assuming no exercise of the underwriters’ over-allotment option) including: • 20,000,000 Class A ordinary shares underlying the units issued as part of this offering; and ​ • 5,000,000 Class B ordinary shares held by our initial shareholders. ​ If we decrease the size of this offering, or if the underwriters do not exercise their over-allotment option in full, our sponsor will forfeit an amount of Class B ordinary shares to maintain the ownership of our initial shareholders (together with any permitted transferees of our founder shares), on an as-converted basis, at 20% of the sum of (i) the number of public shares (including any such shares issued following the exercise of the over-allotment option) and (ii) the number of founder shares held by our sponsor (together with any permitted transferees of such founder shares) following such forfeiture. Up to 750,000 founder shares are subject to forfeiture by our sponsor depending on the extent to which the underwriters’ over-allotment option is exercised. Holders of Class A ordinary shares and holders of Class B ordinary shares are entitled to one vote for each share held on all matters to be voted on by shareholders and will vote together as a single class on all matters submitted to a vote of our shareholders except as provided below and required by law. Unless specified in our amended and restated memorandum and articles of association, or as required by applicable provisions of the Companies Act or applicable stock exchange rules, an ordinary resolution being the affirmative vote of a majority of the Class A ordinary shares and Class B ordinary shares that are voted is required to approve 139 TABLE OF CONTENTS any such matter voted on by our shareholders. Approval of certain actions will require a special resolution under Cayman Islands law, being the affirmative vote of at least two-thirds of our Class A ordinary shares and Class B ordinary shares that are voted,

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q FORM-10-Q 2022-02-14 https://www.sec.gov/Archives/edgar/data/1865248/000110465922023083/cmca-20211231x10q.htm
SC 13G/A FORM SC 13G/A 2022-02-14 https://www.sec.gov/Archives/edgar/data/1865248/000106299322003996/formsc13ga.htm
SC 13G/A 2022-02-09 https://www.sec.gov/Archives/edgar/data/1865248/000090266422001248/p22-0688sc13ga.htm
SC 13G 2022-02-07 https://www.sec.gov/Archives/edgar/data/1865248/000135755022000057/cmcau13g31dec2021.htm
SC 13G SCHEDULE 13G 2022-01-26 https://www.sec.gov/Archives/edgar/data/1865248/000110465922007874/tm224503d1_sc13g.htm
8-K FORM 8-K 2022-01-20 https://www.sec.gov/Archives/edgar/data/1865248/000110465922005992/tm223983d1_8k.htm
SC 13G FORM SC 13G 2021-12-10 https://www.sec.gov/Archives/edgar/data/1865248/000106299321012612/formsc13g.htm
SC 13G CAPITALWORKS EMERGING MARKETS ACQUISITION CORP 2021-12-10 https://www.sec.gov/Archives/edgar/data/1865248/000090266421005221/p21-2652sc13g.htm
8-K FORM 8-K 2021-12-09 https://www.sec.gov/Archives/edgar/data/1865248/000110465921148206/tm2134929d1_8k.htm
8-K FORM 8-K 2021-12-06 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146845/tm2134652d1_8k.htm
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146052/xslF345X02/tm2134511-8_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146051/xslF345X02/tm2134511-7_3seq.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146050/xslF345X02/tm2134511-6_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146049/xslF345X02/tm2134511-5_3seq.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146048/xslF345X02/tm2134511d4_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146047/xslF345X02/tm2134511-3_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146046/xslF345X02/tm2134511-2_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921146045/xslF345X02/tm2134511-1_3seq1.xml
424B4 424B4 2021-12-02 https://www.sec.gov/Archives/edgar/data/1865248/000110465921145920/tm2119884-11_424b4.htm
EFFECT 2021-11-30 https://www.sec.gov/Archives/edgar/data/1865248/999999999521004508/xslEFFECTX01/primary_doc.xml
CERT 2021-11-30 https://www.sec.gov/Archives/edgar/data/1865248/000135445721001386/CMCA_8A_Cert_DPCS.pdf
8-A12B FORM 8-A12B 2021-11-30 https://www.sec.gov/Archives/edgar/data/1865248/000110465921144764/tm2119884d14_8a12b.htm
CORRESP 2021-11-26 https://www.sec.gov/Archives/edgar/data/1865248/000110465921143914/filename1.htm
CORRESP 2021-11-26 https://www.sec.gov/Archives/edgar/data/1865248/000110465921143913/filename1.htm
CORRESP 2021-11-22 https://www.sec.gov/Archives/edgar/data/1865248/000110465921142651/filename1.htm
S-1/A S-1/A 2021-11-22 https://www.sec.gov/Archives/edgar/data/1865248/000110465921142634/tm2119884-8_s1a.htm
UPLOAD 2021-11-22 https://www.sec.gov/Archives/edgar/data/1865248/000000000021014111/filename1.pdf
S-1 FORM S-1 2021-10-27 https://www.sec.gov/Archives/edgar/data/1865248/000110465921130078/tm2119884-4_s1.htm
CORRESP 2021-10-26 https://www.sec.gov/Archives/edgar/data/1865248/000110465921130080/filename1.htm
UPLOAD 2021-09-16 https://www.sec.gov/Archives/edgar/data/1865248/000000000021011264/filename1.pdf
CORRESP 2021-07-27 https://www.sec.gov/Archives/edgar/data/1865248/000110465921096268/filename1.htm
UPLOAD 2021-07-13 https://www.sec.gov/Archives/edgar/data/1865248/000000000021008650/filename1.pdf
DRS/A 2021-06-29 https://www.sec.gov/Archives/edgar/data/1865248/000110465921086411/filename1.htm
DRS 2021-06-21 https://www.sec.gov/Archives/edgar/data/1865248/000110465921083190/filename1.htm