SportsMap Tech Acquisition today filed an investor presentation promoting its proposed merger with Infrared Cameras Holdings, a provider of intelligent thermal imaging platforms. The deal values the merged company at $100 million.
If approved, Infrared Cameras is expected to list on the Nasdaq under a new ticker symbol.
Existing ICI shareholders are expected to roll all their equity into the combined company. Assuming there are no redeeming stockholders, gross proceeds of approximately $118 million will be released to the combined company from the SPAC’s trust account.
SportsMap Tech raised $115 million in an October 2021 IPO with plans at that time to focus on companies engaged in sports technologies, including fan engagement, health and wellness, Esports, and fantasy sports and gambling. Read more.
