Vistas Media Acquisition Company Inc. Announces Pricing of $100,000,000 Initial Public Offering

Rhea-AI Summary

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.

Positive

• Successful pricing of IPO at $10.00 per unit, indicating strong market interest.
• Units will trade under VMACU on NASDAQ, enhancing visibility.
• Potential for revenue growth through subsequent business combinations in the Global Media & Entertainment sector.

Negative

• No assurance of the IPO's completion on the stated terms, indicating potential risk.
• Forward-looking statements highlight inherent uncertainties regarding future business combinations.

NEW YORK, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Vistas Media  Acquisition Company Inc. (NASDAQ:VMACU) (“VMAC” or the “Company”) announced the pricing yesterday of its initial public offering (“IPO”) of 10,000,000 units at a price to the public of $10.00 per unit. The units are expected to be listed on The NASDAQ Capital Market (“NASDAQ”) under the symbol “VMACU” beginning today. Each unit issued in the IPO consists of one share of Class A common stock and one warrant to acquire one share of Class A common stock at an exercise price of $11.50 per share upon the consummation of an initial business combination. Once the securities comprising the units begin separate trading, the Class A common stock and the warrants are expected to be traded on NASDAQ under the symbols “VMAC” and “VMACW,” respectively.

I-Bankers Securities, Inc. is acting as sole book-running manager and Earlybird Capital is acting as co-manager for the IPO. VMAC has granted the underwriters a 30-day option to purchase up to 1,500,000 additional units at the IPO price to cover over-allotments, if any. The offering is expected to close on August 11, 2020, subject to customary closing conditions.

The offering is being made only by means of a prospectus. When available, copies of the prospectus related to this offering may be obtained from I-Bankers Securities, Inc. at 535 5^th Ave., 4^th Floor, New York, NY 10017.

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission (“SEC”) on August 6, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About VMAC

VMAC, led by CEO F. Jacob Cherian and Co-Founders Abhayanand Singh and Saurabh Gupta, is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities in the Global Media and Entertainment sector. The Company intends to identify a target business in the Global Media & Entertainment sector.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the IPO and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the IPO filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contacts
Vistas Media Acquisition Company Inc.
30 Wall Street, 8^th Floor
New York NY 10005
FJC@vmac.media
Attn:
F. Jacob Cherian, CEO

FAQ

What is the IPO price for VMACU?

The IPO price for Vistas Media Acquisition Company (VMACU) is set at $10.00 per unit.

When will VMACU start trading on NASDAQ?

VMACU is expected to start trading on NASDAQ on August 7, 2020.

What does each unit in the VMACU IPO consist of?

Each unit consists of one share of Class A common stock and one warrant to acquire another share at an exercise price of $11.50.

How many additional units can underwriters purchase in the VMACU IPO?

Underwriters have a 30-day option to purchase up to 1,500,000 additional units at the IPO price.

What sector is VMAC targeting for future business combinations?

VMAC aims to identify target businesses in the Global Media & Entertainment sector.