Vistas Media Acquisition in an 8-K filing said its sponsor, Vistas Media Sponsor, requested the SPaC push back its merger deadline from Nov. 11 to Feb. 11. The extension is the second of two three-month extensions permitted under VMAC’s governing documents.
The sponsor will add $1 million to VMAC’s trust account as consideration for the extension. VMAC now has additional time to complete its proposed business combination with Anghami, a music streaming platform and service in the Middle East and North Africa. The sponsor had sweetned the SPAC’s trust with $1 million in A?ugust for the first extension.
The deal with Anghami is valued at $220 million. Read more.