Brief: I-AM Capital Acquisition Company Announces Definitive Agreement With Smaaash Entertainment

Simplicity Esports and Gaming

08/05/2018 22:50

May 8 (Reuters) - I-Am Capital Acquisition Co  IAM.O :
    * I-AM CAPITAL ACQUISITION COMPANY ANNOUNCES DEFINITIVE
AGREEMENT
WITH SMAAASH ENTERTAINMENT, A FAST-GROWING GLOBAL VIRTUAL
REALITY GAMING AND SPORTS ENTERTAINMENT COMPANY
    * I-AM CAPITAL ACQUISITION - WILL INVEST NET AMOUNT
HELD-IN-TRUST
AFTER TRANSACTION CLOSING FEES & EXPENSES, AND ANY REDEMPTIONS,
INFUSING UP TO $49 MILLION
    * I-AM CAPITAL ACQUISITION CO - DEAL WILL TRANSLATE INTO CO
OWINING 24.5% INTEREST IN SMAAASH
    * I-AM CAPITAL ACQUISITION - SMAAASH INTENDS TO USE CASH
PROCEEDS
FROM TRUST ACCOUNT TO GROW ITS BUSINESS, FUND INORGANIC GROWTH
INITIATIVES, AMONG OTHERS
    * I-AM CAPITAL ACQUISITION CO - TRANSACTION VALUES SMAAASH
AT AN
ENTERPRISE VALUE OF APPROXIMATELY $200 MILLION
    * I-AM CAPITAL ACQUISITION CO - UPON CLOSING OF TRANSACTION,
I-AM
CAPITAL WILL CHANGE ITS NAME TO SMAAASH ENTERTAINMENT INC
    * I-AM CAPITAL ACQUISITION - UPON CLOSING OF TRANSACTION, CO
WILL
TRANSITION ITSELF FROM A BLANK CHECK COMPANY TO AN OPERATING
BUSINESS

Source text for Eikon:  ID:nGNX5SCdkV 
Further company coverage:  IAM.O 

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