EMIS
Emmis Acquisition Corp.Financial Services·Financial - Credit Services
$10.13
$160M market cap
Revenue
$0.0M
Free Cash Flow
$-0.2M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Emmis Acquisition Corp. operates as a blank check company. It was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 21, 2025 and is headquartered in Fort Lauderdale, FL.
2-Year Price History
$10.10+2.0%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -0.2 | -0.2 | 1.0 | -0.2 | -0.2 | -0.0 | 118.1 | 0.0 | 11.9 | -112.0% | -- | -- |
Valuation & Metrics
Market Stats
Price$10.13
Market Cap$160M
Enterprise Value$42M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-0.1%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$1.0M
Free Cash Flow$-0.2M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-112.1%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.0M
Days to Cover1.0
Change (vs Prior)-0.1%
Need at least 2 settlement dates for chart
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
69.6%(+0.3% YoY)
42 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(+0.0% YoY)
0 filers
Vanguard, iShares, SPDR
Market makers
0.2%(+0.1% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Karpus Management, Inc. | $9.9M | $9.96 | +$677K | +$9.9M | -0.3% | $3.07B |
| GLAZER CAPITAL, LLC | $7.8M | $9.95 | −$124K | +$7.9M | +8.8% | $4.51B |
| LINDEN ADVISORS LP | $7.5M | $9.95 | +$0 | +$7.5M | -7.0% | $1.89B |
| D. E. Shaw & Co., Inc. | $5.7M | $9.95 | +$0 | +$5.7M | -0.3% | $118.02B |
| ARISTEIA CAPITAL LLC | $5.6M | $9.95 | +$0 | +$5.6M | +5.0% | $2.68B |
| Mint Tower Capital Management B.V. | $5.0M | $9.95 | +$0 | +$5.0M | +6.3% | $517M |
| MANGROVE PARTNERS | $5.0M | $9.95 | +$0 | +$5.0M | +1.6% | $1.23B |
| Radcliffe Capital Management, L.P. | $5.0M | $9.95 | +$0 | +$5.0M | +3.9% | $1.33B |
| AQR Arbitrage LLC | $4.5M | $9.95 | −$157K | +$4.5M | -0.0% | $5.11B |
| WOLVERINE ASSET MANAGEMENT LLC | $4.4M | $9.95 | −$547K | +$4.4M | +1.9% | $2.32B |
| WHITEBOX ADVISORS LLC | $4.0M | $9.95 | +$0 | +$4.0M | +0.5% | $1.77B |
| HEIGHTS CAPITAL MANAGEMENT, INC | $3.5M | $9.95 | +$0 | +$3.5M | -2.5% | $357M |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | $3.5M | $9.95 | +$0 | +$3.5M | -13.5% | $1.98B |
| BERKLEY W R CORP | $3.1M | $9.95 | +$125K | +$3.1M | +0.3% | $1.86B |
| Hudson Bay Capital Management LP | $3.0M | $9.95 | +$0 | +$3.0M | +1.9% | $15.12B |
| PERISCOPE CAPITAL INC. | $2.8M | $9.95 | −$310K | +$2.8M | +1.7% | $559M |
| Crossingbridge Advisors, LLC | $2.8M | $9.95 | −$754K | +$2.8M | -0.1% | $492M |
| Shaolin Capital Management LLC | $2.7M | $9.95 | +$126K | +$2.7M | +7.5% | $1.20B |
| MIZUHO SECURITIES USA LLC | $2.3M | $9.96 | +$138K | +$2.3M | +0.0% | $4.03B |
| Lineage Point Capital LP | $2.3M | $9.95 | +$0 | +$2.3M | +5.2% | $409M |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.57%
avg per quarter
Holders (ex-self)
+0.57%
excl. this stock
Buyers (this Q)
+0.05%
13 buyers · $0.00B in
Sellers (this Q)
-1.96%
8 sellers · $0.00B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior (holder profile)source: holder
On big dips (−10%+)
+1.2%
how holders react when this stock falls
On quiet Qs
-1.7%
−10% to +10% baseline
On rallies (+10%+)
-11.4%
how they react when this stock rises
Holders' portfolio flow this Q
+14.6%
inflows — adds are organic
Sellers' portfolio flow this Q
+46.5%
Sellers grew AUM elsewhere — opinionated cut of this stock.
Biggest decreases this quarter
Top-5 holders · 32.9%
Karpus Management, Inc.--
GLAZER CAPITAL, LLC--
LINDEN ADVISORS LP--
D. E. Shaw & Co., Inc.--
ARISTEIA CAPITAL LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Karpus Management, Inc.981KGLAZER CAPITAL, LLC781KLINDEN ADVISORS LP750KD. E. Shaw & Co., Inc.568KARISTEIA CAPITAL LLC560KMANGROVE PARTNERS500KMint Tower Capital Management B.V.500KRadcliffe Capital Management, L.P.499KWOLVERINE ASSET MANAGEMENT LLC436KAQR Arbitrage LLC445KWHITEBOX ADVISORS LLC400K
Corporate
Order Flow (FINRA, ~3w lag)
0.1%retail-12.2pp
99.3%dark+47.8pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Emmis Acquisition Corp.: The Dilution Engine Disguised as a Blank Check
Overall Risk
4/10
Fraud
2/10
Dilution
9/10
Insolvency
3/10
Earnings Overstated
2/10
Hidden Liabilities
6/10
Legal
2/10
Audit Warnings
4/10
Hidden Upside
1/10
Contextually Acceptable
9/10