Vistas Media Acquisition Company Inc. and Anghami Inc. Announce Closing of Business Combination
Summary
Following the closing of this Business Combination, the common stock of the surviving company will begin trading in the United States on the NASDAQ Global Market under the ticker “ANGH” and the surviving company’s warrants will begin trading on the NASDAQ Capital Market under the ticker “ANGHW,” on February 4, 2022 at 9:30 AM ET. F. Jacob Cherian, Chief Executive Officer of VMAC, commented, “We are delighted to announce the completion of our business combination with Anghami, bringing the first Arab technology company to the United States NASDAQ exchange. “As a public company, we will further develop our ecosystem of creators, expand our content and add millions of users in MENA and globally.” Elie Habib, Co-Founder and Chief Technology Officer added, “The business combination is the culmination of a long journey and we are pleased to be joining NASDAQ, which will provide the foundation for us to hire the best engineers, further innovate and offer our users the best experience and new products.” Anghami brings to the NASDAQ the first music-streaming platform in the Middle East and North Africa, offering more than 75 million songs to more than 75 million registered users with around 1 billion streams per month. It is the only service available in English, Arabic and French, and remains close to its customer base, not only thanks to its pan-regional presence but also via the 56 million user data points it generates every day. VMAC’s and Anghami’s actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events.