Vistas Media Acquisition Company Inc., Led by F. Jacob Cherian and Co-Founders Abhayanand Singh and Saurabh Gupta, Announces the Separate Trading of its Class A Common Stock and Warrants, Commencing on or about August 21, 2020

Rhea-AI Summary

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.

Positive

• Holders can separately trade shares of Class A common stock and warrants, potentially increasing liquidity.
• Strategic focus on the Global Media and Entertainment sector may present growth opportunities.

Negative

• The company is a blank check company, which may carry inherent risks associated with business combinations.
• Uncertain timeline for identifying a target business, which could affect investor confidence.

New York, NY, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Vistas Media Acquisition Company Inc. (the “Company”) today announced that holders of the units sold in the Company’s initial public offering of 10,000,000 units completed on August 11, 2020 (the “offering”) may elect to separately trade the shares of Class A common stock and warrants included in the units commencing on or about August 21, 2020. Any units not separated will continue to trade on The Nasdaq Stock Market LLC under the symbol “VMACU”, and each of the shares of Class A common stock and warrants will separately trade on The Nasdaq Stock Market LLC under the symbols “VMAC” and “VMACW,” respectively. Holders of units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and warrants.

Vistas Media Acquisition Company Inc. is a blank check company 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.

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

The offering was made only by means of a prospectus. Copies of the prospectus relating to this offering may be obtained from I-Bankers Securities, Inc. at 535 5th Ave., 4th Floor, New York, NY 10017.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s search for an initial business combination. 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 for the initial public offering 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.

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CONTACT:

Vistas Media Acquisition Company Inc.
30 Wall Street, 8th Floor
New York NY 10005
FJC@vmac.media
Attn: F. Jacob Cherian, CEO
To learn more, visit: http://vmac.media

FAQ

What is the purpose of Vistas Media Acquisition Company's recent announcement?

The announcement informs unit holders about the option to separately trade shares of Class A common stock and warrants beginning August 21, 2020.

What symbols will the shares and warrants trade under for VMACU?

The units will continue to trade under VMACU, while shares of Class A common stock and warrants will trade under VMAC and VMACW, respectively.

What is the significance of being a blank check company for VMACU?

As a blank check company, Vistas Media Acquisition is formed to pursue a merger or business combination, which involves risks related to finding and acquiring a suitable target.

When did Vistas Media Acquisition Company complete its initial public offering?

The initial public offering was completed on August 11, 2020.

What should unit holders do to separate their units into shares and warrants?

Unit holders need to contact their brokers to request the separation of units into shares of Class A common stock and warrants through the transfer agent.