I-AM Capital Acquisition Company Announces Stockholder Approval of Business Combination with Smaaash Entertainment Private Li...
November 13 2018 - 4:15PM
I-AM Capital Acquisition Company (NASDAQ:IAM) (the "Company"),
announced today that holders of its common stock have approved the
Company’s previously announced proposed business combination (the
"business combination") with Smaaash Entertainment Private Limited
(“Smaaash”) and related transactions, at the special meeting in
lieu of the annual meeting of the Company’s stockholders held on
November 9, 2018. The Company’s stockholders also approved each of
the other proposals included in the Company’s definitive proxy
statement filed by the Company with the Securities and Exchange
Commission (the "SEC") on September 19, 2018, and as supplemented
by the proxy statement supplement filed on November 5, 2018.
The Company expects the business combination to
close within the next week or so, subject to customary closing
conditions. Upon the closing of the business combination, the
Company will change its name to “Smaaash Entertainment Inc.”.
About I-AM Capital:The Company,
which was co-founded and is led by F. Jacob Cherian and Suhel
Kanuga, is a blank check company, also commonly referred to as a
Special Purpose Acquisition Company, or SPAC, formed for the
purpose of effecting a merger, share exchange, asset acquisition,
share purchase, reorganization or similar business combination with
one or more businesses or entities. The Company raised $52.7
million in its IPO and will focus its efforts to identify a target
business and will not be limited to a particular industry or
geographic region, although it intends to focus its search on
target businesses with a connection in India.
FORWARD-LOOKING STATEMENTSThis press release
contains statements that constitute "forward-looking statements,"
including the timing of the closing of the business combination.
Forward-looking statements are subject to numerous
conditions, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the
Company's registration statement and prospectus for the Company's
initial public offering and its definitive proxy statement in
connection with its special meeting filed with the SEC. Copies are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
CONTACT:
I-AM Capital Acquisition Company
sk@i-amcapital.com
(212) 878 3684
I-AM Capital Acquisition Company (delisted) (NASDAQ:IAM)
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