VTAC is acquiring 17LIVE, a live streaming company, for $800.8 million through the issuance of 160.16 million new shares. The valuation may rise by another $122 million from the issuance of new (earnout) shares by August 2024.
The research team at PhillipCapital is recommending that Vertex Technology Acquisition Corp’s (VTAC) shareholders vote in favour of the 17LIVE acquisition. The team adds that VTAC’s shareholders should fully redeem their shares at the redemption price range of $5 to $5.02 per share.
Phillip Securities Research was appointed by the Securities Investors Association Singapore (SIAS) and received monetary compensation from the latter to provide independent research on VTAC’s de-SPAC.
