{"url_path":"/sec/emisr/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2075816/0001213900-26-056665-index.html","accession_number":"0001213900-26-056665","cik":"0002075816","ticker":"EMISR","issuer_name":"Emmis Acquisition Corp.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2075816/0001213900-26-056665-index.html","primary_entity_key":"0002075816","primary_entity_name":"Emmis Acquisition Corp."},"word_count":393,"has_tables":true,"body_markdown":"Item 2. Unregistered Sales of Equity Securities\nand Use of Proceeds.\n\n \n\nOn September 26, 2025, we consummated the Initial\nPublic Offering of 11,500,000 Units, which includes the full exercise by the underwriter of its over-allotment option of 1,500,000 Units,\nat $10.00 per Unit, generating gross proceeds of $115,000,000 I-Bankers Securities, Inc. acted as sole book-running manager and IB Capital\nLLC acted as co-manager, of the Initial Public Offering. The securities in the offering were registered under the Securities Act on registration\nstatement on Form S-1 (No. 333-288530). The Securities and Exchange Commission declared the registration statements effective on September\n26, 2025.\n\n \n\nSimultaneously with the closing of the Initial\nPublic Offering, we consummated the sale of an aggregate of 367,500 Private Placement Units at a price of $10.00 per Private Placement\nUnit, generating gross proceeds of $3,675,000. Each Private Placement Unit consists of one Class A ordinary share (each, a “Private\nPlacement Share”) and one right entitling the holder thereof to receive one tenth (1/10) of one Class A ordinary share upon the\nconsummation of an initial Business Combination (each, a “Private Placement Right”). The issuance was made pursuant to the\nexemption from registration contained in Section 4(a)(2) of the Securities Act.\n\n \n\nThe Private Warrants are identical to the warrants\nunderlying the Units sold in the Initial Public Offering, except that the Private Warrants are not transferable, assignable or salable\nuntil after the completion of a Business Combination, subject to certain limited exceptions.\n\n \n\nOn September 26, 2025, the underwriters exercised\ntheir over-allotment option in full, resulting in the sale of an additional 1,500,000 Units for gross proceeds of $115,000,000. In connection\nwith the underwriters’ exercise of their over-allotment option, the Company also consummated the sale of an additional 367,500\nPrivate Placement Units at $10.00 per Private Placement Unit, generating total proceeds of $3,675,000. A total of $115,000,000 was deposited\ninto the Trust Account.\n\n \n\nOf the gross proceeds received from the Initial\nPublic Offering, the exercise of the over-allotment option and the Private Placement Units, an aggregate of $115,000,000 was placed in\nthe Trust Account.\n\n \n\nWe paid a total of $2,316,412, consisting of\n$1,725,000 cash underwriting fee, and $591,412 of other offering costs and expenses related to the Initial Public Offering.\n\n \n\nFor a description of the use of the proceeds\ngenerated in our Initial Public Offering, see Part I, Item 2 of this Form 10-Q."}