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Vistas Media Acquisition Company Inc. (NASDAQ: VMAC) has announced that its shareholders, during a special meeting on January 19, 2022, overwhelmingly voted (approximately 98% in favor) to approve the business combination with Anghami Inc., the leading music streaming platform in the Middle East and North Africa. This merger is poised to close upon fulfilling certain conditions, after which Anghami's common stock will trade under the ticker 'ANGH' on NASDAQ. The deal marks a significant move in the media and entertainment sector, targeting the rapidly growing digital music market in the region.
Vistas Media Acquisition Company (NASDAQ: VMACU) announced an extension for its business combination deadline with Anghami Inc. from November 11, 2021, to February 11, 2022. The sponsor deposited $1,000,000 into VMAC’s trust account, which is a significant step towards finalizing the merger. The business combination is anticipated to close in Q4 2021, subject to stockholder approval and regulatory conditions. VMAC aims to merge with Anghami, a leading music streaming platform in MENA, enhancing its portfolio in the global media and entertainment sector.
Vistas Media Acquisition Company Inc. (NASDAQ: VMACU) announced an extension for its business combination deadline with Anghami Inc. from November 11, 2021, to February 11, 2022. The sponsor, Vistas Media Sponsor, LLC, will deposit $1,000,000 into VMAC’s trust account by November 11, 2021. This extension allows more time to finalize the merger with Anghami, the leading music streaming service in the Middle East and North Africa, which boasts over 57 million songs for more than 70 million users. The merger is a significant strategic move for expanding into the growing media sector.
Vistas Media Acquisition Company (NASDAQ: VMACU) announced an extension for its business combination with Anghami Inc., a leading music streaming platform in MENA, by depositing $1 million into its trust account, extending the deadline from August 11, 2021, to November 11, 2021. This move allows VMAC more time to finalize the merger, which is expected to occur in Q4 2021, pending stockholder and regulatory approvals. The loan from VMAC's sponsor is non-interest bearing and will be repaid upon the merger's completion, which is subject to meeting specific conditions.
Vistas Media Acquisition Company (NASDAQ: VMACU) announced an extension for its business combination deadline with Anghami Inc., moving it from August 11, 2021, to November 11, 2021. The Extension is the first of two possible three-month extensions allowed under VMAC’s regulations. To facilitate this extension, $1 million will be deposited into VMAC's trust account by the Sponsor. This decision aims to provide additional time for concluding the merger with Anghami, a leading music streaming platform in the MENA region.
Anghami is set to become the first Arab technology company listed on NASDAQ through a merger with Vistas Media Acquisition Company Inc. (NASDAQ: VMAC). The merger values Anghami at approximately $220 million, representing 2.5 times its estimated revenues for 2022. The deal is anticipated to close in Q2 2021 and includes $40 million in PIPE financing from SHUAA Capital and Vistas Media Capital. Anghami, founded in 2012, has over 70 million registered users and boasts 1 billion streams monthly, with expectations to quintuple revenues in the next three years.
Vistas Media Acquisition Company Inc. announced on August 18, 2020, that holders of the 10,000,000 units from its initial public offering (IPO) can begin separately trading the shares of Class A common stock and warrants starting August 21, 2020. The units will trade under the symbol VMACU, while Class A shares and warrants will trade under VMAC and VMACW, respectively. The company is focused on pursuing a business combination within the Global Media and Entertainment sector.
Vistas Media Acquisition Company (NASDAQ: VMACU) announced the successful closing of its IPO with the issuance of 10 million units at $10.00 each. Trading commenced on NASDAQ on August 7, 2020. Each unit includes one share of Class A common stock and a warrant to acquire another share at $11.50 upon completing a business combination. The underwriters were granted an option for an additional 1.5 million units to cover over-allotments. VMAC's leadership aims to target businesses in the Global Media and Entertainment sector for future deals.
Vistas Media Acquisition Company Inc. (Nasdaq: VMACU) has launched its initial public offering (IPO), raising $100 million through the sale of 10 million units priced at $10 each. The IPO trading commenced on August 7, 2020, and is expected to close on August 11, 2020, subject to standard conditions. VMAC, a SPAC, is focused on mergers and acquisitions in the Global Media and Entertainment sector, with leadership experience from notable figures in the finance and media industries. The underwriters have a 30-day option to purchase 1.5 million additional units for over-allotments.
Vistas Media Acquisition Company (NASDAQ: VMACU) has priced its initial public offering (IPO) at $10.00 per unit, totaling 10,000,000 units. Trading will commence on NASDAQ under the symbol VMACU. Each unit includes one share of Class A common stock and a warrant for an additional share at $11.50. The IPO is set to close on August 11, 2020, subject to customary conditions. I-Bankers Securities is the lead manager, with a 30-day option for underwriters to purchase up to 1,500,000 additional units.
