May 8, 2018 / 9:54 PM / 2 months ago

BRIEF-I-AM Capital Acquisition Company Announces Definitive Agreement With Smaaash Entertainment

May 8 (Reuters) - I-Am Capital Acquisition Co:

* I-AM CAPITAL ACQUISITION COMPANY ANNOUNCES DEFINITIVE AGREEMENT WITH SMAAASH ENTERTAINMENT, A FAST-GROWING GLOBAL VIRTUAL REALITY GAMING AND SPORTS ENTERTAINMENT COMPANY

* I-AM CAPITAL ACQUISITION - WILL INVEST NET AMOUNT HELD-IN-TRUST AFTER TRANSACTION CLOSING FEES & EXPENSES, AND ANY REDEMPTIONS, INFUSING UP TO $49 MILLION

* I-AM CAPITAL ACQUISITION CO - DEAL WILL TRANSLATE INTO CO OWINING 24.5% INTEREST IN SMAAASH

* I-AM CAPITAL ACQUISITION - SMAAASH INTENDS TO USE CASH PROCEEDS FROM TRUST ACCOUNT TO GROW ITS BUSINESS, FUND INORGANIC GROWTH INITIATIVES, AMONG OTHERS

* I-AM CAPITAL ACQUISITION CO - TRANSACTION VALUES SMAAASH AT AN ENTERPRISE VALUE OF APPROXIMATELY $200 MILLION

* I-AM CAPITAL ACQUISITION CO - UPON CLOSING OF TRANSACTION, I-AM CAPITAL WILL CHANGE ITS NAME TO SMAAASH ENTERTAINMENT INC

* I-AM CAPITAL ACQUISITION - UPON CLOSING OF TRANSACTION, CO WILL TRANSITION ITSELF FROM A BLANK CHECK COMPANY TO AN OPERATING BUSINESS Source text for Eikon: Further company coverage:

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