Parsec Capital Acquisitions Corp.: M&A transaction — Parsec Capital acquires 56.7% of Enteractive Media in stock exchange; SPAC completes business combination

Parsec Capital Acquisitions Corp.

Parsec acquired 56.7% of Enteractive's common stock from majority stockholders in exchange for 3,402,560 newly issued Parsec Class B shares.
The March 9, 2023 Stock Exchange and Reorganization Agreement supersedes the October 13, 2022 Agreement and Plan of Merger.
Parsec had previously redeemed all Class A shares and warrants expired worthless as of December 2022; Nasdaq listing was cancelled.
Enteractive operates PlayerVision, a gambling-themed media and affiliate platform targeting the Canadian sports betting market after Bill C-218 legalization.
The combined company will focus on the PlayerVision Affiliate Gaming Network, generating revenue from affiliate commissions and advertising.

item 1.01 item 2.01 item 2.02 item 3.02 item 5.01 item 5.02 item 5.06 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Parsec Capital Acquisitions Corp.: Parsec ceased being a shell company upon completion of the acquisition on March 9, 2023 (effective 2023-03-09).

Change: shell status
Effective: 2023-03-09

Exact text from the filing

Prior to the closing of the acquisition, Parsec was a “shell company” as defined in Rule 405 of the Securities Act and Rule 12b-2 of the Exchange Act. As described in Item 2.01 above, which is incorporated by reference into this Item 5.06, Parsec ceased being a shell company upon completion of the acquisition on March 9, 2023.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Parsec Capital Acquisitions Corp. completed an acquisition involving Enteractive Media, Inc. (closed 2023-03-09).

Action: acquisition
Counterparty: Enteractive Media, Inc.
Closing: 2023-03-09

Exact text from the filing

On March 9, 2023, we entered into the Acquisition Agreement with stockholders of Enteractive Media, Inc owning 56.7% of Enteractive’s issued and outstanding common stock making Enteractive a majority owned subsidiary of Parsec, as more fully described in Item 2.02 above, Immediately following the closing of the Acquisition, former Enteractive Media, Inc. shareholders own approximately 59.6% of our issued and outstanding common stock

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Source: SEC EDGAR

accession 0001493152-23-010010

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