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SportsMap Tech Acquisition Corp. (Symbol: SMAP) is a blank check company formed with the intent of executing mergers, share exchanges, asset acquisitions, or similar business combinations with one or more businesses. Recently, SportsMap Tech Acquisition Corp. successfully completed its business combination with Infrared Cameras Holdings, Inc., a leading provider of innovative thermal imaging and sensing platforms.
The newly formed company, Infrared Cameras Holdings, Inc., is known for its state-of-the-art thermal imaging solutions that integrate edge and cloud software. The technology developed by Infrared Cameras allows for a single-pane-of-glass view, enabling customers to monitor and analyze live imaging and sensing data of critical assets efficiently. This solution is especially valuable across various industries such as logistics, manufacturing, utilities, and oil & gas, where traditional manual inspections are often time-consuming and error-prone.
Infrared Cameras' core offerings include high-resolution thermal imaging, acoustic imaging, vibration sensing platforms, and software solutions powered by AWS, designed for condition-based monitoring. These products help organizations maintain and protect their critical assets and infrastructures by providing precise measurements of environmental heat, sound, and gas levels.
The company’s leadership, headed by CEO Gary Strahan, continues to drive strategic priorities such as customer expansion, operational excellence, and continuous product improvements. With the business combination now complete, Infrared Cameras Holdings, Inc. aims to leverage public market support to enhance its growth trajectory and improve margins through its software-as-a-service (SaaS) business model.
As of now, the combined company has applied for listing on the Nasdaq Global Market under the ticker symbols 'MSAI' and 'MSAIW'. The listing is pending approval as the company works to meet the initial listing criteria set by Nasdaq. The outcome is crucial for the company’s long-term strategy to attract investor support and deliver sustained value to shareholders.
SportsMap Tech Acquisition Corp. (NASDAQ: SMAP) has signed a definitive agreement to merge with Infrared Cameras Holdings, Inc. (ICI), a leader in thermal imaging technology. The transaction values the combined entity at a pre-money valuation of
SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU, SMAP, SMAPW) received a notice from Nasdaq on May 25, 2022, indicating non-compliance with Listing Rule 5250(c)(1) due to the failure to timely file its Quarterly Report on Form 10-Q for Q1 2022 and its Annual Report on Form 10-K for 2021. The notice does not impact the current listing or trading of securities. The company has until June 20, 2022, to submit a compliance plan and may receive an extension until October 12, 2022, if accepted.
SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU, SMAP, SMAPW) received a notice from Nasdaq on April 19, 2022, indicating non-compliance with Listing Rule 5250(c)(1) due to a late filing of its Annual Report on Form 10-K for the year ended December 31, 2021. The notice does not affect the trading status of the Company’s securities immediately. The Company has 60 days to submit a compliance plan and may receive an extension of up to 180 days until October 12, 2022, to regain compliance.
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