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Minority Equality Opportunities Acquisition Inc. Announces Merger with Hispanic-Led and founded Cloud Services Company Digerati Technologies
Minority Equality Opportunities Acquisition Inc. Announces Merger with Hispanic-Led and founded Cloud Services Company Digerati Technologies.
About this update from Digerati Technologies, Inc.
[{"type":"text","content":"\n\n\n\nMinority Equality Opportunities Acquisition Inc. Announces Merger with Hispanic-Led and founded Cloud Services Company Digerati Technologies\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMinority Equality Opportunities Acquisition Inc. Announces Merger with Hispanic-Led and founded Cloud Services Company Digerati Technologies\nPR Newswire\nWAXAHACHIE, Texas, Sept. 6, 2022\n\n\n\nWAXAHACHIE, Texas, Sept. 6, 2022 /PRNewswire/ -- The board of directors and management team of Minority Equality Opportunities Acquisition Inc. (NASDAQ: MEOA), the first minority-led special purpose acquisition company, or SPAC, listed on the Nasdaq Capital Market (\"NASDAQ\"), announced today that it had signed a definitive business combination agreement to merge with Digerati Technologies, Inc. (OTCQB: DTGI) (\"Digerati\"), a Hispanic-led and founded provider of cloud services specializing in UCaaS (Unified Communications as a Service) solutions for the small to medium-sized business market.\nDigerati and MEOA will merge to create a combined company listed on NASDAQ. The all-stock transaction forms a company with an initial equity value of approximately $228 million translating into an enterprise value of approximately $145 million, assuming no redemptions from MEOA's shareholders. \nThe current Digerati management team, led by Arthur L. Smith, will continue to run the Company. Corporate directors for the new entity are current Digerati directors and two new directors, including Shawn D. Rochester, President and CEO of MEOA.\n\"MEOA's merger announcement with Digerati personifies our mission, vision and purpose,\" Mr. Rochester said. \"Digerati is a minority founded and led business with (1) a very diverse management team (with its CEO, CFO, and EVP of Sales being of Hispanic ethnicity) that has developed great products and solutions, and staked out a strong competitive position in the marketplace, (2) an employee base that is almost 50% minority and (3) a UCaaS platform that has the ability to help empower over 20 million minority and women owned small businesses through it...