Clover Leaf Capital Files Prospectus on Kustom Entertainment Deal

Clover Leaf Capital filed a prospectus outling its merger deal with Digital Ally subsidiary Kustom Entertainment, which was announced last June at an implied initial pro forma equity value of approximately $222.2 million.

Terms call for Kustom Entertainment shareholders to receive $125 million in stock, according to the prospectus.

Redemptions ahead of an extension vote in January removed nearly $2.4 million from the SPAC’s trust, leaving about $15.7 million.

Kustom Entertainment is focused on live events, concert production and ticketing.

Digital Ally will remain an independent public company following the merger, if approved. Read more

Total
0
Shares
Related Posts