I-AM Capital announces closing of transaction with SMAAASH Entertainment
Smaaash Entertainment announced that it has successfully consummated its previously announced transaction with SMAAASH Entertainment Private Limited, a global virtual reality gaming and sports entertainment company. As part of the transaction, the company changed its name to "SMAAASH Entertainment Inc." As a result, the company expects that its shares of common stock and warrants will continue trading on the NASDAQ Capital Market under the new ticker symbols "SMSH" and "SMSHW", respectively, on or shortly after November 23. In connection with the consummation of the transaction, approximately 740,000 shares of the company's common stock representing $7.5M elected not to redeem their shares. Immediately after the closing, the Company has approximately 5.1 million shares and 5.4 million warrants outstanding, with each warrant exercisable for one share of common stock at an exercise price of $11.50 per share. Further details about the Company, Smaaash and the transaction will be included in the Company's Form 8-K that will be filed with the SEC by November 27.