The proposed business combination with the technology-driven live social entertainment platform confirms The Edge Singapore's previous report that VTAC was eyeing a "new media" company, as per sources familiar with the matter.
Vertex Technology Acquisition Corporation (VTAC) (SGX:VT1
) has signed a conditional sale and purchase agreement (SPA) with 17LIVE Holding where both companies will come together to form 17LIVE Inc.
17LIVE Inc. will then become a publicly-listed company on the Singapore Exchange (SGX:S68) Securities Trading Limited (SGX-ST). The proposed business combination is subject to SGX-ST’s approval and VTAC’s shareholders at an extraordinary general meeting (EGM) to be convened.
