Digerati Technologies provides update on plan to list on Nasdaq

Digerati Technologies provides an additional update to its previously announced signing of a definitive business combination agreement with Minority Equality Opportunities Acquisition. MEOA and the Company are jointly preparing MEOA’s second S-4/A registration statement regarding the business combination and MEOA’s response to comments from the Securities and Exchange Commission Staff regarding the S-4/A that was filed on February 15, 2023. The merger will not close until the SEC declares the S-4 effective. The transaction also remains subject to NASDAQ approving MEOA’s initial listing application in connection with the merger, approval of the merger by the shareholders of each of MEOA and Digerati, as well as other customary closing conditions. Prior to the filing of the next S-4/A registration statement, Digerati and Minority Equality Opportunities Acquisition Inc. will file, respectively, its Form 10-Q for the period ended January 31, 2023 and Form 10-K for the year ended December 31, 2022. As previously reported, the transaction results in a $105M enterprise valuation for Digerati and has been approved by the boards of directors of both Digerati and MEOA, with an expected closing in the second quarter of CY 2023, subject to the approvals mentioned in the second paragraph of this press release. As previously disclosed, the Business Combination Agreement was extended through April 28, 2023.