SMAAASH Entertainment, Inc. Announces Proposal to Reduce Strike Price and Redemption Threshold of Outstanding Warrants
January 02 2019 - 11:45AM
SMAAASH Entertainment Inc. (NASDAQ: SMSH) (the “Company”),
announced it has proposed an Amendment to its outstanding
warrants. If approved by the requisite number of warrant
holders, as required by law, the Amendment would reduce the
exercise price of the warrants from $11.50 to $4.00 per share, and
reduce the redemption threshold from $21.00 to $7.00 per share, for
any 20 trading days within a 30-trading day period.
About SMAAASH Entertainment
Inc.:
SMAAASH Entertainment Inc. (NASDAQ:SMSH), (f/k/a
I-AM Capital Acquisition Company Co-Founded and led by CEO F. Jacob
Cherian and CFO Suhel Kanuga), completed its transaction with
SMAAASH Entertainment Pvt. Ltd (“SMAAASH Private”) on November 20,
2018. SMAAASH Private is a global entertainment company offering
interactive sports experiences and virtual reality gaming
technology. On December 21, 2018, SMAAASH Entertainment Inc.
announced it had entered into definitive agreements to combine with
NBA Memphis Grizzlies Minority Owner Jed Kaplan’s Simplicity
Esports. Simplicity is an established brand in the esports
industry with an engaged fan base competing in popular games across
different genres, including PUBG, Gears of War, Injustice 2 and NHL
19.
FORWARD-LOOKING STATEMENTS
This press release contains statements that
constitute “forward-looking statements,”. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s definitive proxy statement
filed with the SEC on September 19, 2018, as amended. Copies are
available on the SEC’s website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
INVESTOR RELATIONS CONTACT:SMAAASH
Entertainment, Inc.Roman
Franklinroman@SMAAASHinc.com561-819-8586
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