June 18, 2018
I-AM Capital set to invest in Smaaash
I-AM Capital Acquisition Company, a special purpose acquisition company listed on NASDAQ, has entered into definitive agreements to invest an amount upto USD 49 million for approximately 24.5% stake in Smaaash Entertainment Private Limited. Smaaash is a global virtual reality gaming and sports entertainment company, headquartered in Mumbai, India and presently owns and operates over 30 family entertainment centers across India.
Press coverage relating to this transaction is available here.
We, at Nishith Desai Associates, acted as transaction counsel to I-AM Capital and advised on strategic and legal aspects of the transaction including the negotiations and deal documentation.