Vistas Media Acquisition Company’s Business Combination with Anghami

Winston & Strawn represented Vistas Media Acquisition Company Inc. in the transaction. Norton Rose Fulbright advised Anghami.Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly-traded special purpose acquisition company led by CEO F. Jacob Cherian and co-founders Saurabh Gupta and Abhayanand Singh, reached a definitive merger agreement with Anghami, the leading music streaming platform and service in the Middle East and North Africa.

This merger agreement will result in Anghami becoming the first Arab technology company to list on NASDAQ. The transaction implies a pro forma enterprise value of $220 million. The combined company will operate under the Anghami name and will trade under the new symbol “ANGH.” The transaction is expected to close in Q2 of 2021.

Winston & Strawn represented Vistas Media Acquisition with a team led by partners Bobert B. Heller (Picture), Jason D. Osborn, David A. Sakowitz, and associates Roman Z. Ibragimov and Benjamin Liss.

Led by Ayse Yüksel Mahfoud (New York and Istanbul) and Brian Fenske (Houston), the Norton Rose Fulbright deal team also included Trevor Pinkerton, David Moore, Rishika Sengupta (Houston) and Cem Tecimer (Istanbul). Todd Schroeder (Dallas) advised on tax matters.

Involved fees earner: Brian Fenske – Norton Rose Fulbright; David Moore – Norton Rose Fulbright; Trevor Pinkerton – Norton Rose Fulbright; Todd Schroeder – Norton Rose Fulbright; Rishika Sengupta – Norton Rose Fulbright; Ayse Yuksel Mahfoud – Norton Rose Fulbright; Robert Heller – Winston & Strawn; Roman Ibragimov – Winston & Strawn; Benjamin Liss – Winston & Strawn; Jason Osborn – Winston & Strawn; David Sakowitz – Winston & Strawn;

Law Firms: Norton Rose Fulbright; Winston & Strawn;

Clients: Anghami; Vistas Media Acquisition Company Inc.;

Author: Martina Bellini