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Net Element, a technology driven group in mobile commerce and payment processing, as well as in entertainment and culture Internet destinations in Russia and other emerging markets, and Cazador Acquisition Corporation, a special purpose acquisition company (SPAC), today announced that their respective shareholders have approved their merger agreement and their previously announced business combination has been completed. The combined entity, named "Net Element International Inc.," will be listed on the NASDAQ Capital Market beginning Wednesday, Oct. 3, under the ticker symbol “NETE.
“As a result of this merger, Net Element International is well-positioned to become a leading mobile-based commerce and payment processing platform and continue implementing our growth strategy for our content and technology properties in the U.S. as well as Russia and other emerging markets,” said
Francesco Piovanetti, Net Element International’s new Chief Executive Officer, who previously served as Cazador’s Chairman and Chief Executive Officer.
Opening Bell Ceremony on October 4
In celebration of its NASDAQ listing, Net Element International will ring the NASDAQ opening bell at
9:30 a.m. Thursday, Oct. 4, at the NASDAQ MarketSite in New York City. In attendance will be Piovanetti along with the company’s newly appointed Chairman and Director, Kenges Rakishev
, a global business leader and technology investor, and Dmitry Kozko, its newly appointed President. The event begins at approximately 9:15 a.m., with media and guests invited to begin arriving at 8:30 a.m. The event may be viewed live that morning at
Said Rakishev: “Net Element International, with its extensive global network and high-level business dealings with Russia, Kazakhstan and other CIS countries, is ideally positioned to capitalize on the region’s booming technology marketplace and bring value to our shareholders.”
Aegis Capital Corp. acted as financial adviser to Cazador, and Reed Smith LLP acted as legal advisor to Cazador. Bilzin Sumberg Baena Price & Axelrod LLP provided legal counsel and Primary Capital, LLC acted as an adviser to Net Element.