Deal Description: SHUAA Capital psc. (DFM: SHUAA), the UAE’s premier publicly listed asset management and investment banking firm, has gathered and subscribed for commitments of $30 million in PIPE financing in connection with the proposed business combination between Anghami and Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly traded special purpose acquisition company that raised $100 million in its August 2020 initial public offering. Anghami, the leading music streaming platform in the Middle East and North Africa, will be the first Arab technology company to list on NASDAQ.
Founded in 2012, Anghami has built a market-leading platform, offering more than 57 million songs to more than 70 million registered users with around 1 billion streams per month.
Baker Botts L.L.P. is representing SHUAA Capital psc. in the transaction.
Baker Botts Lawyers/Office Involved:
Corporate: Haitham Hawashin (Partner, Dubai); John Kaercher (Partner, Austin); and Catherine Gallagher (Partner, Washington, D.C.).
For more information, please see SHUAA's news release here.
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