Vistas Media Acquisition, a blank check company targeting the media and entertainment industry, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The New York, NY-based company plans to raise $100 million by offering 10 million units at a price of $10. Each unit consists of one share and three-quarters of one warrant, exercisable at $11.50. At the proposed deal size, Vistas Media Acquisition would command a fully market value of $128 million.
The company is led by CEO Jacob Cherian, the former CEO of I-AM Capital Acquisition (acquired Simplicity Esports and Gaming in November 2018; trading under the ticker WINR), and CFO Nagarajan Venkatesan.
The New York, NY-based company was founded in 2020 and plans to list on the Nasdaq under the symbol VMACU. Vistas Media Acquisition filed confidentially on June 4, 2020. I-Bankers Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
