IPOs

Media and Entertainment SPAC Vistas Media Acquisition files for a $100 million IPO

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.

The article Media and Entertainment SPAC Vistas Media Acquisition files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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