Enteractive Media agrees Nasdaq SPAC merger

Finance News

Parsec Capital Acquisitions a special purpose acquisition corporation sponsored by Parsec Acquisitions Sponsor, LLC, announced the execution of an agreement and plan of merger with Enteractive Media Inc.

The transaction has been approved by the Board of Directors of both the Company and Enteractive Media and is expected to be consummated in the fourth quarter of 2022, subject to regulatory and stockholder approval by the stockholders of the Company and the stockholder of Enteractive Media and the satisfaction of certain other customary closing conditions.

Enteractive Media is a business that acts as the gateway between consumers and gambling operators. Enteractive Media’s wholly owned subsidiary “PlayerVision” provides consumers with gambling themed television broadcasts, on demand video, “Join in Play” synchronous live video streamed sports wagering programming (available on the web, mobile and television), which include gambling strategies, tips and advice, leaderboards, contests, and incentives where people who like to gamble can: Meet each other; Learn how to play new games and gamble; Compete with each other in free games and real money games, and Win prizes and money.

Upon the closing of the Business Combination, the combined company is expected to operate under the name Enteractive Media Inc. and remain a Nasdaq listed public company trading under a new ticker symbol. The board of directors of the combined company will consist of one director designed by the Company and four directors designated by Enteractive Media. There can be no assurance that the combined company will remain listed on Nasdaq.

Ms. Patricia Trompeter, Chairperson and Chief Executive Officer of Parsec, said, “We are excited to have Enteractive for this business merger and look forward to consummating this transaction. We believe that, with the value proposition Enteractive brings to this transaction, it is well-positioned for substantial growth and sustainability. We view the transaction valuation as highly attractive to investors. We believe that through our merger, coupled with the management’s background we have the potential to create significant value for shareholders.”