Firm News

The Latest News from Lucosky Brookman

Lucosky Brookman is a leader in the representation of small and micro-cap companies. The Firm has led it clients through numerous capital raise transaction and over a dozen uplisting and initial public offering transactions.  Access the latest news about Lucosky Brookman, our clients’ business transactions and industry updates here. 

Lucosky Brookman Successfully Represents Digerati Technologies, Inc. in SPAC Transaction; Company signs Business Combination Agreement to list on NASDAQ

Lucosky Brookman LLP congratulates its client, Digerati Technologies, Inc. (OTCQB: DTGI), 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, on the execution of a Business Combination Agreement pursuant to which it shall list on NASDAQ via a transaction with Minority Equality Opportunities Acquisition Inc (MEOA).

Digerati 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.

The 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.

"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 its first-class suite of communications products. In addition to our proposed business combination with Digerati, MEOA's deep commitment to equity, inclusion, diverse representation and maximizing shareholder value is further exemplified by our use of a diverse spectrum of extraordinary third-party service providers (and teams within service providers) that are owned and or led by African Americans, Asian Americans, Hispanic Americans, and Women."

Lucosky Brookman acted as legal counsel to Digerati in connection with the transaction. Maxim Group LLC acted as financial advisor.