Clover Leaf Slates Vote on $125M Kustom Entertainment Deal

Clover Leaf Capital called a July 16 meeting for shareholder to vote on the proposed acquisition of Digital Ally subsidiary Kustom . The deal was announced last June at an implied initial pro forma equity value of approximately $222.2 million.

Terms call for Kustom Entertainment shareholders to receive 13,128,366 shares valued at $125 million, according to the prospectus.

Redemptions ahead of an extension vote in January removed nearly $2.4 million from the SPAC's trust, leaving about $15.7 million.

Kustom Entertainment is focused on live events, concert production and ticketing.

Digital Ally will remain an independent public company. Read more.

Source: Clover Leaf Slates Vote on 5M Kustom Entertainment Deal