Monument Circle SPAC Closes $250 Million IPO

Paul, Weiss represented Monument Circle Acquisition Corp., a SPAC formed by Emmis Corporate Communications’ founder and CEO Jeffrey Smulyan, in its $250 million initial public offering.

The offering included 3,200,000 units issued pursuant to the exercise by the underwriters of their over-allotment option. The units, each of which consists of one share of the Company’s Class A common stock and one half of one warrant, will be listed on the Nasdaq Capital Market. Cantor Fitzgerald & Co. and Moelis & Company LLC were joint book-running managers for the offering. The company will seek a business combination with one or more businesses and intends to focus its search for a target business in the entertainment sector.

The Paul, Weiss team included corporate partner Raphael Russo.