Maquia Capital Acquisition Corporation Announces Filing Of Registration Statement On Form S-4 In Connection With Its Proposed Business Combination With Immersed Inc.
Portfolio Pulse from Benzinga Newsdesk
Maquia Capital Acquisition Corporation (NASDAQ:MAQC), a SPAC, has filed a registration statement with the SEC for a proposed business combination with Immersed Inc., a provider of enterprise AI productivity solutions. The combined entity will be named 'Immersed Inc.' and will list on Nasdaq under the ticker 'AIMR'. Immersed has over 730,000 unique users and users spent 20 million minutes on its application in Q3 2023. The deal sets Immersed's pre-money enterprise value at $150 million and is expected to close in the first half of 2024, subject to approvals.
November 14, 2023 | 9:03 pm
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Maquia Capital Acquisition Corporation has announced its intention to merge with Immersed Inc., with plans to list the new entity on Nasdaq under the ticker 'AIMR'. The merger is expected to close in the first half of 2024, subject to stockholder and regulatory approvals.
The announcement of a merger typically leads to increased investor interest and potential stock price movement as the market assesses the future prospects of the combined entity. The positive sentiment around the merger and the future listing under a new ticker could lead to a short-term increase in MAQC's stock price.
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