Parsec Capital Acquisitions today announced an agreement and plan of merger with Enteractive Media based in Calgary, Alberta. The transaction is expected to close in the fourth quarter, the SPAC said in a press release.
Enteractive Media’s wholly owned subsidiary “PlayerVision” provides consumers with gambling themed television broadcasts, on demand video, and “Join in Play” synchronous live video streamed sports wagering programming (available on the web, mobile and television), which include gambling strategies, tips and advice, leaderboards, contests, and incentives.
In an 8-K filing Parsec said the total consideration to be paid at closing to Enteractive Media shareholders will be five million shares of Class A common stock. All cash proceeds remaining in the trust will be used to pay transaction costs and as growth capital for Enteractive Media.
Parsec raised $75 million in an October 2021 IPO with stated plans at the time to focus on the space economy, transportation and technology adjacent industries. Read more.
