Minority Equality Opportunities Acquisition Inc. retains two minority-led companies as acquisition target, Due Diligence Advisors
WASHINGTON, November 24, 2021 / PRNewswire / – Minority Equality Opportunities Acquistion Inc. (“MEOA”) today announced that it has retained PGP Capital Advisors (“PGP”) and Vaughan Capital Advisors (“VCA”) as co-advisors of the company for the search for business combinations and the execution of transactions.
Sir. Kim stewart leads the PGP team and is the founder of the company. Stewart has over 30 years of experience in mergers and acquisitions and corporate finance, starting with the M&A group of Merrill Lynch, working on landmark transactions such as the restructuring of the RJR Nabisco leveraged buyout in 1990 and the sale of Blockbuster Entertainment to Viacom in 1995. Since the inception of PGP in 2003, Stewart and the PGP team have completed more than 60 transactions exceeding $ 3 billion and are recognized in the minority-owned business sector for advising the Broadway Federal Bank, a black-owned financial institution, on its recapitalization in 2013 and, more recently, for assisting the Panda Restaurant Group on strategic investments. Besides, East West Bank, the largest ethnic community bank in the United States with more than 60 billion dollars in assets, is the strategic partner of PGP. Stewart graduated from Dartmouth College and the Wharton School of Business.
Sir. Craig vaughan leads the VCA team and is also the founder of the firm. Craig is a well-respected advisor with over 20 years of experience in mergers and acquisitions and private equity, starting with the Technology, Media and Telecommunications group of Goldman Sachs, working on transactions such as the formation of NBAtv and of a $ 4 billion repurchase of shares by Bell Canada. Since the launch of VCA in 2012, Craig and the VCA team have closed 50 millions& A and private equity transactions including the sale of Double Encore to WPP and the sale of Essence Communications to Black-owned Essence Ventures in 2018. Craig also founded a black-owned private equity fund , the QueensBridge Fund, with a world-renowned musical artist. Nas and his manager Anthony Saleh. The QueensBridge Fund has made early stage investments in companies with a combined exit market value greater than 60 billion dollars, including Lyft, Dropbox, Ring, Casper, Pillpack, Robinhood, and PlutoTV. Prior to founding VCA, Craig held senior positions at News Corp and Creative Artists Agency, where he completed transactions including the formation of Fox Mobile TV and the acquisition of the San Diego Padres by the Moorad Group. He graduated from the University of Michigan Ross School business and University of Texas at Austin.
“Having PGP and VCA as co-advisers is essential to MEOA’s business acquisition and due diligence process,” said Shawn Rochester, Chairman and CEO of MEOA. “Their expertise in mergers and acquisitions and their commitment to the growth of minority businesses is perfectly aligned with our mission and objectives. We are confident that their advice will deliver the value investors expect. “
At August 30, 2021, MEOA closed its $ 126.5 million IPO, which included the full exercise by the underwriters of their over-allotment option. Sphere 3D Corp. (NASDAQ: ANY), a Toronto, Ontariovirtualization and data solutions company, sponsored the PSPC. Jarvis stewart, Chairman and CEO of HP Global Advisors, a black-owned business strategy and development firm, provided advisory services to Sphere 3D and MEOA during the SPAC and IPO process as well as Patricia Trumpet, Ceres Capital, a minority female financial advisory firm.
About Minority Equality Opportunities Acquisition Inc.
Minority Equality Opportunities Acquisition Inc. is a blank check company, also commonly known as a Special Purpose Acquisition Company, or SPAC, organized under the laws of the Delaware state and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more companies or entities. While the Company may pursue an initial business combination goal in any business, industry or geographic location, it intends to focus its research on transactions with minority-owned businesses, so that, immediately after the completion of its initial business combination, the business would be considered a minority controlled business. In general, a “minority-owned enterprise” is an enterprise in which at least 51% of the equity interest is owned by one or more individuals belonging to a minority who are United States citizens or foreigners who are legal residents and whose management and day-to-day business operations are carried out by one or more individuals belonging to a minority (a member of the minority group being an individual composed at least 25% of Asian, Asian-Pacific, black Indians , Hispanic, or Native American), and a “minority controlled company” is a company that would qualify for certification as a “minority business enterprise” by the National Minority Supplier Development Council, Inc.
Disclaimer Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements”, including with respect to the Company’s pursuit of an initial business combination. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set out in the Risk Factors section of the Company’s registration statement and of the final IPO prospectus filed with of the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company assumes no obligation to update these statements for revisions or changes after the date of this posting, except as required by law.
SOURCE Minority Equality Opportunities Acquisition Inc.