SCHEDULE: Linden Capital Group Discloses 6.3% Stake in Emmis Acquisition

Linden Capital L.P. and its affiliates have reported a passive beneficial ownership of 6.3% in Emmis Acquisition Corp., totaling 750,000 Class A ordinary shares.

Summary

• Linden Capital L.P., Linden GP LLC, Linden Advisors LP, and Siu Min Wong (collectively, the "Reporting Persons") have filed a Schedule 13G.
• The filing reports beneficial ownership of Class A ordinary shares, par value $0.0001 per share, of Emmis Acquisition Corp. (the "Issuer").
• As of September 29, 2025, the Reporting Persons collectively beneficially own 750,000 Class A ordinary shares.
• This ownership represents approximately 6.3% of the Issuer's outstanding Class A ordinary shares.
• All Reporting Persons share both voting and dispositive power over the 750,000 shares.
• The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of the Issuer, indicating a passive investment intent.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of a passive ownership stake, providing no explicit positive or negative financial or operational news for the issuer. It is a neutral informational update.

Positives

• The disclosure of a significant 6.3% passive stake by an institutional investor group (Linden Capital L.P. and its affiliates) could be viewed as a vote of confidence in Emmis Acquisition Corp.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, mitigating the risk of an activist investor or hostile takeover attempt from this group.

Future Outlook

This Schedule 13G filing does not contain any forward-looking statements or guidance regarding the future performance or strategic direction of Emmis Acquisition Corp. or the reporting entities.

Industry Context

This filing represents a standard disclosure of a significant passive ownership stake by an institutional investor group, common in the public markets. It does not provide specific insights into broader industry trends or competitive positioning beyond the fact that Emmis Acquisition Corp. has attracted this level of investment.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant passive institutional investor group holding 6.3% of the company's Class A ordinary shares.

Next Steps

• The Reporting Persons will be required to file amendments to this Schedule 13G if there are material changes to their beneficial ownership percentage or investment intent.

Key Dates

Recommendation

This Schedule 13G filing primarily discloses a passive beneficial ownership stake by Linden Capital L.P. and its affiliates in Emmis Acquisition Corp. It does not contain financial performance data, strategic updates, or other information typically used to assess the intrinsic value or future prospects of the company. Therefore, based solely on this filing, a 'hold' recommendation is appropriate as there is no new information to warrant a change in investment thesis.

Keywords

Emmis Acquisition Corp, Linden Capital L.P., Schedule 13G, beneficial ownership, Class A ordinary shares, institutional investor, passive investment, equity stake