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Coliseum Acquisition Corp. - MITA

  • Commons

    $9.78

    -0.10%

    MITA Vol: 106.0

  • Warrants

    $0.85

    +9.64%

    MITAW Vol: 387.0

  • Units

    $9.91

    +0.00%

    MITAU Vol: 20.0K

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 146.8M
Average Volume: 5.5K
52W Range: $9.55 - $10.00
Weekly %: +0.72%
Monthly %: -0.31%
Inst Owners: 0

Info

Target: Searching
Days Since IPO: 158
Unit composition:
Each unit has an offering price of $10.00 and consists of one Class A ordinary share and one-third of one redeemable warrant
Trust Size: 15000000.0M

Management

Directors, Director Nominees and Officers.” Certain of our directors and officers are now, and our sponsor, directors and officers may in the future become, affiliated with entities engaged in business activities similar to those intended to be conducted by us and, accordingly, may have conflicts of interest in determining to which entity a particular business opportunity should be presented. Following the completion of this offering and until we consummate our initial business combination, we intend to engage in the business of identifying and combining with one or more businesses. Certain of our directors and officers are now, and our sponsor, directors and officers may in the future become affiliated with entities that are engaged in a similar business. Each of our officers has agreed, pursuant to a written agreement, not to become an officer or director of any other special purpose acquisition company with a class of securities registered under the Exchange Act, until we have entered into a definitive agreement regarding our initial business combination; provided, however, that Mr. Haimovic may become a director of another special purpose acquisition company with a class of securities intended to be registered under the Exchange Act, even before we have entered into a definitive agreement regarding our initial business combination, so long as such entity maintains its executive office in Europe and is not expected to compete for the types of businesses in our Core Sectors. Our directors and officers also may become aware of business opportunities which may be appropriate for presentation to us and the other entities to which they owe certain fiduciary or contractual duties. Accordingly, they may have conflicts of interest in determining to which entity a particular business opportunity should be presented. These conflicts may not be resolved in our favor and a potential target business may be presented to other entities prior to its presentation to us, subject to his or her fiduciary duties under Cayman Islands law. Our amended and restated memorandum and articles of association provide that, to the fullest extent permitted by applicable law: (i) no individual serving as a director or an officer shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same or similar business activities or lines of business as us; and (ii) we renounce any interest or expectancy in, or in being offered an opportunity to participate in, any potential transaction or matter which may be a corporate opportunity for any director or officer, on the one hand, and us, on the other. 60 TABLE OF CONTENTS For a complete discussion of our officers’ and directors’ business affiliations and the potential conflicts of interest that you should be aware of, please see “Management — Directors, Director Nominees and Officers,” “Management — Conflicts of Interest” and “Certain Relationships and Related Party Transactions.” Our directors, officers, security holders and their respective affiliates may have competitive pecuniary interests that conflict with our interests. We have not adopted a policy that expressly prohibits our directors, officers, security holders or affiliates from having a direct or indirect pecuniary or financial interest in any investment to be acquired or disposed of by us or in any transaction to which we are a party or have an interest. In fact, we may enter into a business combination with a target business that is affiliated with our sponsor, our directors or officers, although we do not intend to do so. Nor do we have a policy that expressly prohibits any such persons from engaging for their own account in business activities of the types conducted by us. Accordingly, such persons or entities may have a conflict between their interests and ours. In particular, affiliates of our sponsor have invested in a diverse set of industries. As a result, there may be substantial overlap between companies that would be a suitable business combination for us and companies that would make an attractive target for such other affiliates. We may engage in a business combination with one or more target businesses that have relationships with entities that may be affiliated with our sponsor, directors or officers which may raise potential conflicts of interest. In light of the involvement of our sponsor, directors and officers with other entities, we may decide to acquire one or more businesses affiliated with our sponsor, directors and officers. Certain of our directors and officers also serve as officers and board members for other entities, including those described under “Management — Conflicts of Interest.” Such entities may compete with us for business combination opportunities. Our sponsor, directors and officers are not currently aware of any specific opportunities for us to complete our initial business combination with any entities with which they are affiliated, and there have been no preliminary discussions concerning a business combination with any such entity or entities. Although we will not be specifically focusing on, or targeting, any transaction with any affiliated entities, we would pursue such a transaction if we determined that such affiliated entity met our criteria and guidelines for a business combination as set forth in “Proposed Business — Effecting Our Initial Business Combination — Selection of a target business and structuring of our initial business combination” and such transaction was approved by a majority of our independent and disinterested directors. Despite our agreement that we, or a committee of independent and disinterested directors, will obtain an opinion from an independent investment banking firm that is a member of FINRA or from an independent accounting firm, regarding the fairness to our company from a financial point of view of a business combination with one or more domestic or international businesses affiliated with our sponsor, directors or officers, potential conflicts of interest still may exist and, as a result, the terms of the business combination may not be as advantageous to our public shareholders as they would be absent any conflicts of interest. Since our initial shareholders will lose their entire investment in us if our initial business combination is not completed, a conflict of interest may arise in determining whether a particular business combination target is appropriate for our initial business combination. On February 17, 2021, our sponsor paid an aggregate of $25,000 to cover for certain expenses on behalf of us in exchange for issuance of 4,312,500 founder shares, or approximately $0.006 per share. Our initial shareholders will collectively own 20% of our issued and outstanding shares after this offering (assuming they do not purchase any units in this offering). If we increase or decrease the size of this offering, we will effect a capitalization or share repurchase or redemption or other appropriate mechanism, as applicable, immediately prior to the consummation of this offering in such amount as to maintain the number of founder shares at 20% of our issued and outstanding ordinary shares upon the consummation of this offering. The founder shares will be worthless if we do not complete an initial business combination. In addition, our sponsor has committed to purchase an aggregate of 3,225,000 (or 3,450,000 if the underwriter’s over-allotment option is exercised in full) private placement warrants, each exercisable for one Class A ordinary share, for a purchase price of $4,837,500 in the aggregate (or $5,175,000 in the aggregate if the underwriter’s over-allotment option is exercised in full), or $1.50 per warrant, that will also be worthless if 61 TABLE OF CONTENTS we do not complete a business combination. Each private placement warrant may be exercised for one Class A ordinary share at a price of $11.50 per share, subject to adjustment as provided herein. The founder shares are identical to the ordinary shares included in the units being sold in this offering except that: (1) prior to our initial business combination, only holders of the founder shares have the right to vote on the appointment of directors and holders of a majority of our founder shares may remove a member of the board of directors for any reason; (2) the founder shares are subject to certain transfer restrictions; (3) our initial shareholders, directors and officers have entered into a letter agreement with us, pursuant to which they have agreed to waive: (i) their redemption rights with respect to any founder shares and public shares held by them, as applicable, in connection with the completion of our initial business combination; (ii) their redemption rights with respect to any founder shares and public shares held by them in connection with a shareholder vote to amend our amended and restated memorandum and articles of association (A) to modify the substance or timing of our obligation to allow redemption in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination within 24 months from the closing of this offering or (B) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity; and (iii) their rights to liquidating distributions from the trust account with respect to any founder shares they hold if we fail to complete our initial business combination within 24 months from the closing of this offering (although they will be entitled to liquidating distributions from the trust account with respect to any public shares they hold if we fail to complete our initial business combination within the prescribed time frame); (4) the founder shares will automatically convert into our Class A ordinary shares at the time of our initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights, as described in more detail below; and (5) the founder shares are entitled to registration rights. If we submit our initial business combination to our public shareholders for a vote, our initial shareholders have agreed (and their permitted transferees will agree), pursuant to the terms of a letter agreement entered into with us, to vote their founder shares and any public shares held by them purchased during or after this offering in favor of our initial business combination. The personal and financial interests of our sponsor, directors and officers may influence their motivation in identifying and selecting a target business combination, completing an initial business combination and influencing the operation of the business following the initial business combination. This risk may become more acute as the 24-month deadline following the closing of this offering nears, which is the deadline for the completion of our initial business combination. Our management may not be able to maintain control of a target business after our initial business combination. We cannot provide assurance that, upon loss of control of a target business, new management will possess the skills, qualifications or abilities necessary to profitably operate such business. We may structure our initial business combination so that the post-transaction company in which our public shareholders own shares will own less than 100% of the equity interests or assets of a target business, but we will complete such business combination only if the post-transaction company owns or acquires 50% or more of the issued and outstanding voting securities of the target or otherwise acquires a controlling interest in the target business sufficient for us not to be required to register as an investment company under the Investment Company Act. We will not consider any transaction that does not meet such criteria. Even if the post-transaction company owns 50% or more of the voting securities of the target, our shareholders prior to our initial business combination may collectively own a minority interest in the post business combination company, depending on valuations ascribed to the target and us in our initial business combination transaction. For example, we could pursue a transaction in which we issue a substantial number of new ordinary shares in exchange for all of the issued and outstanding capital stock, shares or other equity securities of a target. In this case, we would acquire a 100% interest in the target. However, as a result of the issuance of a substantial number of new ordinary shares, our shareholders immediately prior to such transaction could own less than a majority of our issued and outstanding ordinary shares subsequent to such transaction. In addition, other minority shareholders may subsequently combine their holdings resulting in a single person or group obtaining a larger share of the company’s shares than we initially acquired. Accordingly, this may make it more likely that our management will not be able to maintain our control of the target business. 62 TABLE OF CONTENTS Our initial shareholders will control the appointment of our board of directors until consummation of our initial business combination and will hold a substantial interest in us. As a result, they will appoint all of our directors prior to our initial business combination and may exert a substantial influence on actions requiring shareholder vote, potentially in a manner that you do not support. Upon the closing of this offering, our initial shareholders will own 20% of our issued and outstanding ordinary shares (assuming they do not purchase any units in this offering). In addition, prior to our initial business combination, holders of the founder shares will have the right to appoint all of our directors and may remove members of the board of directors for any reason. Holders of our public shares will have no right to vote on the appointment of directors during such time. These provisions of our amended and restated memorandum and articles of association may only be amended by a special resolution passed by a majority of at least 90% of our ordinary shares attending and voting in a general meeting. As a result, you will not have any influence over the appointment of directors prior to our initial business combination. Neither our initial shareholders nor, to our knowledge, any of our directors or officers, have any current intention to purchase additional securities, other than as disclosed in this prospectus. Factors that would be considered in making such additional purchases would include consideration of the current trading price of our Class A ordinary shares. In addition, as a result of their substantial ownership in our company, our initial shareholders may exert a substantial influence on other actions requiring a shareholder vote, potentially in a manner that you do not support, including amendments to our amended and restated memorandum and articles of association and approval of major corporate transactions. If our initial shareholders purchase any Class A ordinary shares in this offering or in the aftermarket or in privately negotiated transactions, this would increase their influence over these actions. Accordingly, our initial shareholders will exert significant influence over actions requiring a shareholder vote at least until the completion of our initial business combination. After our initial business combination, it is possible that a majority of our directors and officers will live outside the United States and all or substantially all of our assets will be located outside the United States; therefore investors may not be able to enforce federal securities laws or their other legal rights. It is possible that after our initial business combination, a majority of our directors and officers will reside outside of the United States and all or substantially all of our assets will be located outside of the United States. As a result, it may be difficult, or in some cases not possible, for investors in the United States to enforce their legal rights, to effect service of process upon all of our directors or officers or to enforce judgments of United States courts predicated upon civil liabilities and criminal penalties on our directors and officers under United States laws. We are dependent upon our directors and officers and their departure could adversely affect our ability to operate. Our operations are dependent upon a relatively small group of individuals and in particular, Jason Stein and Daniel Haimovic. We believe that our success depends on the continued service of our directors and officers, at least until we have completed our initial business combination. In addition, our directors and officers are not required to commit any specified amount of time to our affairs and, accordingly, will have conflicts of interest in allocating their time among various business activities, including identifying potential business combinations and monitoring the related due diligence. Moreover, certain of our directors and officers have time and attention requirements for investment funds of which affiliates of our sponsor are the investment managers. We do not have an employment agreement with, or key-man insurance on the life of, any of our directors or officers. The unexpected loss of the services of one or more of our directors or officers could have a detrimental effect on us. Risks Relating to the Acquisition and Operation of a Business in Foreign Countries If our management team pursues a company with operations or opportunities outside of the United States for our initial business combination, we may face additional burdens in connection with investigating, agreeing to and completing such combination, and if we effect such initial business combination, we would be subject to a variety of additional risks that may negatively impact our operations. If our management team pursues a company with operations or opportunities outside of the United States for our initial business combination, we would be subject to risks associated with cross-border business 63 TABLE OF CONTENTS combinations, including in connection with investigating, agreeing to and completing our initial business combination, conducting due diligence in a foreign market, having such transaction approved by any local governments, regulators or agencies and changes in the purchase price based on fluctuations in foreign exchange rates. If we effect our initial business combination with such a company, we would be subject to any special considerations or risks associated with companies operating in an international setting, including any of the following: • costs and difficulties inherent in managing cross-border business operations and complying with commercial and legal requirements of overseas markets; ​ • rules and regulations regarding currency redemption; ​ • complex corporate withholding taxes on individuals; ​ • laws governing the manner in which future business combinations may be effected; ​ • tariffs and trade barriers; ​ • regulations related to customs and import/export matters; ​ • longer payment cycles; ​ • tax consequences, such as tax law changes, including termination or reduction of tax and other incentives that the applicable government provides to domestic companies, and variations in tax laws as compared to the United States; ​ • currency fluctuations and exchange controls; ​ • rates of inflation; ​ • challenges in collecting accounts receivable; ​ • cultural and language differences; ​ • employment

Institutional Holders

Reporting Date Hedge Fund Shares Held Market Value % of Portfolio Quarterly Change in Shares Ownership in Company
2021-11-22 Seaport Global Asset Management LLC 31,102 $300,000 0.8% 0 0.166%
2021-11-17 Altium Capital Management LP 85,000 $850,000 0.2% 0 0.453%
2021-11-16 Oaktree Capital Management LP 200,000 $1,930,000 0.0% 0 1.067%
2021-11-16 Warberg Asset Management LLC 15,000 $30,000 0.0% 0 0.080%
2021-11-16 CNH Partners LLC 258,868 $2,510,000 0.1% 0 1.381%
2021-11-15 Polar Asset Management Partners Inc. 1,498,998 $14,590,000 0.1% 0 7.995%
2021-11-15 Marshall Wace LLP 25,398 $250,000 0.0% 0 0.135%
2021-11-15 Glazer Capital LLC 187,279 $1,810,000 0.0% 0 0.999%
2021-11-15 Knott David M 984,835 $9,560,000 3.5% 0 5.252%
2021-11-12 Periscope Capital Inc. 348,850 $3,370,000 0.1% 0 1.861%
2021-11-12 Wolverine Asset Management LLC 2,572 $25,000 0.0% 0 0.014%
2021-11-12 Magnetar Financial LLC 10,417 $100,000 0.0% 0 0.056%
2021-11-10 Segantii Capital Management Ltd 50,000 $490,000 0.0% 0 0.267%
2021-11-09 Basso Capital Management L.P. 149,750 $1,460,000 0.2% 0 0.799%

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q FORM 10-Q 2021-11-23 https://www.sec.gov/Archives/edgar/data/1847440/000141057821000425/mita-20210930x10q.htm
8-K FORM 8-K 2021-11-16 https://www.sec.gov/Archives/edgar/data/1847440/000110465921140000/tm2133080d1_8k.htm
NT 10-Q NT 10-Q 2021-11-16 https://www.sec.gov/Archives/edgar/data/1847440/000110465921139991/tm2133081d1_nt10q.htm
10-Q FORM 10-Q 2021-08-20 https://www.sec.gov/Archives/edgar/data/1847440/000110465921107869/mita-20210630x10q.htm
NT 10-Q NT 10-Q 2021-08-16 https://www.sec.gov/Archives/edgar/data/1847440/000110465921106440/tm2120848d2_nt10q.htm
4 OWNERSHIP DOCUMENT 2021-08-12 https://www.sec.gov/Archives/edgar/data/1847440/000110465921104211/xslF345X03/tm2124742-3_4seq1.xml
4 OWNERSHIP DOCUMENT 2021-08-12 https://www.sec.gov/Archives/edgar/data/1847440/000110465921104201/xslF345X03/tm2124742-2_4seq1.xml
4 OWNERSHIP DOCUMENT 2021-08-12 https://www.sec.gov/Archives/edgar/data/1847440/000110465921104199/xslF345X03/tm2124742-1_4seq1.xml
8-K FORM 8-K 2021-08-10 https://www.sec.gov/Archives/edgar/data/1847440/000110465921102871/tm2124663d1_8k.htm
10-Q FORM 10-Q 2021-08-05 https://www.sec.gov/Archives/edgar/data/1847440/000110465921100770/mita-20210331x10q.htm
SC 13G SC 13G 2021-07-02 https://www.sec.gov/Archives/edgar/data/1847440/000110465921088894/tm2121355d1_sc13g.htm
8-K FORM 8-K 2021-07-01 https://www.sec.gov/Archives/edgar/data/1847440/000110465921088337/tm2121068d1_8k.htm
SC 13G SC 13G 2021-06-30 https://www.sec.gov/Archives/edgar/data/1847440/000110465921087191/tm2121054d1_sc13g.htm
8-K FORM 8-K 2021-06-28 https://www.sec.gov/Archives/edgar/data/1847440/000110465921086311/tm2120694d1_8k.htm
3 OWNERSHIP DOCUMENT 2021-06-25 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085871/xslF345X02/tm2120567-9_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-25 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085870/xslF345X02/tm2120567-6_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085313/xslF345X02/tm2120567-10_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085312/xslF345X02/tm2120567-8_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085311/xslF345X02/tm2120567-7_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085309/xslF345X02/tm2120567-4_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085310/xslF345X02/tm2120567-5_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085308/xslF345X02/tm2120567-3_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085307/xslF345X02/tm2120567-2_3seq1.xml
3 OWNERSHIP DOCUMENT 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921085306/xslF345X02/tm2120567-1_3seq1.xml
424B4 424B4 2021-06-24 https://www.sec.gov/Archives/edgar/data/1847440/000110465921084951/tm217726-8_424b4.htm
EFFECT 2021-06-22 https://www.sec.gov/Archives/edgar/data/1847440/999999999521002435/xslEFFECTX01/primary_doc.xml
CERT 2021-06-22 https://www.sec.gov/Archives/edgar/data/1847440/000135445721000688/8A_Cert_MITA.pdf
8-A12B 8-A12B 2021-06-21 https://www.sec.gov/Archives/edgar/data/1847440/000110465921082883/tm2120152-1_8a12b.htm
S-1/A S-1/A 2021-06-09 https://www.sec.gov/Archives/edgar/data/1847440/000110465921078853/tm217726-6_s1a.htm
S-1/A S-1/A 2021-03-30 https://www.sec.gov/Archives/edgar/data/1847440/000110465921044035/tm217726-4_s1a.htm
S-1 S-1 2021-03-19 https://www.sec.gov/Archives/edgar/data/1847440/000110465921039149/tm217726-2_s1.htm
DRS 2021-03-04 https://www.sec.gov/Archives/edgar/data/1847440/000110465921032196/filename1.htm