Brief: Kustom Entertainment Inc Enters Into Business Combination Agreement With Clover Leaf Capital Corp.

Kustom Entertainment

02/06/2023 14:07

June 2 (Reuters) - Clover Leaf Capital Corp  CLOE.O :
    * KUSTOM ENTERTAINMENT, INC. ENTERS INTO BUSINESS
COMBINATION
AGREEMENT WITH CLOVER LEAF CAPITAL CORP.
    * DIGITAL ALLY INC - TRANSACTION CONTEMPLATES AN EQUITY
VALUE OF
$125 MILLION FOR KUSTOM ENTERTAINMENT, INC
    * DIGITAL ALLY INC - COMBINED COMPANY TO HAVE AN IMPLIED
INITIAL
PRO FORMA EQUITY VALUE OF APPROXIMATELY $222.2 MILLION
    * DIGITAL ALLY INC - COMBINED COMPANY WILL BE KNOWN AS
KUSTOM
ENTERTAINMENT AND WILL OPERATE UNDER SAME MANAGEMENT TEAM AS
KUSTOM ENTERTAINMENT
    * DIGITAL ALLY INC - DIGITAL ALLY WILL REMAIN AN INDEPENDENT
PUBLIC COMPANY FOLLOWING MERGER
    * DIGITAL ALLY INC - WILL DISTRIBUTE TO ITS SHAREHOLDERS 15%
OF
SHARES OBTAINED IN KUSTOM ENTERTAINMENT IMMEDIATELY FOLLOWING
CLOSING OF MERGER

Source text for Eikon:  ID:nGNX6Tv6d7 
Further company coverage:  CLOE.O 

 ((Reuters.Briefs@thomsonreuters.com;))