Anghami Inc., a music streaming platform and service in the Middle East and North Africa, and Vistas Media Acquisition Company Inc. (NASDAQ: VMAC) (“VMAC”), a publicly-traded special purpose acquisition company, announced that in a special meeting on January 19, 2022, VMAC’s shareholders voted to approve its proposed business combination (the “Business Combination”) with Anghami. Approximately 98% of the votes cast at the meeting were in favour of the Business Combination.
The Business Combination is expected to close upon satisfaction of the closing conditions. Following the closing of the Business Combination, the common stock and warrants of the surviving company are expected to begin trading on the NASDAQ under the tickers “ANGH” and “ANGHW,” respectively.
Vistas Media Acquisition Company Inc. is a blank check company, also commonly referred to as a Special Purpose Acquisition Company, or SPAC, formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities in the Global Media and Entertainment sector.