Mergers & AcquisitionsBy The Online Investor Staff, updated Thu., Mar. 4, 2:17 PM
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Slide #12. Anghami Inc. — Vistas Media Acquisition Company Inc.
Vistas Media Acquisition Company Inc. (NASDAQ:VMAC)
Anghami Inc. ("Anghami" or the "Company"), the leading music streaming platform and service in the Middle East and North Africa and Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly traded special purpose acquisition company led by CEO F. Jacob Cherian and co-founders Saurabh Gupta and Abhayanand Singh, announced that they have entered into a definitive merger agreement that will result in Anghami becoming the first Arab technology company to list on NASDAQ. The transaction implies a pro-forma enterprise value of $220 million. The combined company will operate under the Anghami name and will trade under the new symbol "ANGH." The transaction is expected to close in Q2 of 2021.