Transaction Details

Footnotes

Reflects the 310,00 class A ordinary shares of Emmis Acquisition Corp. (the "Issuer") that are included in the 310,000 private placement units of the Issuer purchased by Emmis Capital Sponsor LLC ("Sponsor"). Each private placement unit was purchased for $10 per unit and consists of one Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination. | Represents the 31,000 Class A ordinary shares, which may be acquired by Sponsor upon the conversion of 310,000 rights (included in the Sponsor's private placement units) upon consummation of the registrant's initial business combination. As described in the Registration Statement under the heading "Description of Securities-Share Rights," each right will automatically convert into one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination, subject to certain adjustments described therein and have no expiration date. No fractional Class A ordinary shares will be issued upon conversion of such rights. | Represents (i) the 310,000 rights referred to in footnotes 1 and 3 and (ii) 3,833,333 Class B ordinary shares held by the Sponsor acquired pursuant to a subscription agreement by and between the Issuer and the Sponsor.