Model Performance Acquisition in an 8-K filing today said it entered a $12 million PIPE subscription agreement with Prominence Investment Management in support of the SPAC’s proposed merger with MultiMetaVerse.
Announced in August 2021, Model Performance intends to acquire Hong Kong-based MultiMetaVerse in a $300 million stock deal. The target is sole owner of Shanghai Mi Ting Culture and Creativity Co.
The SPAC raised $57.5 million in an April 2021 IPO. The deal has a minimum $20 million cash condition to close. Read more.
