Starstream Entertainment Launches Special Purpose Acquisition Company (SPAC) To Spur Continued Growth within $153 Billion
December 02 2020 - 10:00AM
InvestorsHub NewsWire
Starstream
Entertainment Launches
Special Purpose Acquisition Company (SPAC) To Spur Continued Growth
within $153 Billion Staffing Industry
New Smyrna
Beach, FL -- December 2, 2020 --
InvestorsHub NewsWire -- Starstream
Entertainment
Inc. (OTC
PINK: SSET) announced today that the Company recently
formed Starstream SPAC Holdings Corp
in order to facilitate the Company's aggressive growth initiative
within the burgeoning $153 Billion staffing
industry.
Starstream
SPAC Holdings
Corp ("SPAC") was formed and launched as a Florida Based
holding
company. The SPAC will
be used as an acquisition vehicle to identify target
businesses, undertake the necessary
in-depth due diligence and negotiate a business combination.
The Company intends to target businesses within the staffing industry that
possess attractive
Enterprise Value
to Revenue ratios.
A Special Purpose Acquisition
Company ("SPAC") is a company with no commercial operations that is
formed strictly for the purpose of acquiring an existing
company. SPAC's have no existing business operations or even
stated targets for acquisition. SPAC's are generally formed
to target a particular industry or business sector with the
intention of pursing deals in that area.
Carla Rissell, CEO of Starstream
Entertainment
Inc. stated, "I am very pleased to announce the formation and
launch of Starstream
SPAC Holdings
Corp. This acquisition vehicle structure will greatly enhance
our overall Company's ability
to identify,
target and acquire prime acquisition candidates within the staffing
industry. This is an exciting time for the Company and
shareholders."
According to
industry tracker SPACInsider.com, as of November 10,
2020, there
have been 172 SPAC
transactions that
have
raised approximately
$63 billion in
capital this year, with an average deal size of $367
million. Yet a
mere five years
ago, the corresponding numbers were twenty
deals
raising roughly
$3.9 billion,
each deal averaging around
$195
million.
Share Structure Information
for Starstream Entertainment
Inc. as of
December 2, 2020
Total Shares
Authorized: 450,000,000 shares
Total Unrestricted Common
Shares (Float): 16,686,162 shares
Total Outstanding Common
Shares (O/S): 68,010,196 shares
Company share
count information is updated on a regular basis on OTC
Markets.
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Safe Harbor: This
Press Release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These forward-looking
statements are based on the current plans and expectations of
management and are subject to a number of uncertainties and risks
that could significantly affect the company's current plans and
expectations, as well as future results of operations and financial
condition. A more extensive listing of risks and factors that may
affect the company's business prospects and cause actual results to
differ materially from those described in the forward-looking
statements can be found in the reports and other documents filed by
the company with the Securities and Exchange Commission and OTC
Markets, Inc. OTC Disclosure and News Service. The company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
CONTACT:
Starstream Entertainment,
Inc.
https://www.facetimepromo.com/
Carla Rissell, CEO
investorinfo@facetimepromo.com
833-422-7300
-
Investor
Relations: Ext. 700
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