Minority Equality Opportunities Acquisition announced today that it had signed a definitive business combination agreement to merge with Digerati Technologies, a Hispanic-led and founded provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business market.
If approved, Digerati would list on the Nasdaq. The all-stock transaction forms a company with an initial equity value of approximately $228 million, translating into an enterprise value of approximately $145 million, assuming no SPAC shareholder redemptions.
Minority Equality Opportunities Acquisition raised $126.5M in an August 2021 IPO.
PGP Capital Advisors and Vaughan Capital Advisors acted as financial advisors to the SPAC, and Pryor Cashman was legal counsel. Maxim Group acted as financial advisor and Lucosky Brookman acted as legal counsel to Digerati. Read more.
