Cazador Acquisition Corporation to Merge with Net Element

Net Element NETE and Cazador Acquisition Corporation CAZA CAZAU today announced the execution of a merger agreement that will infuse up to $81 million into Net Element and provide the necessary financial resources for the company's next stage of growth. A SPAC is a collective investment mechanism that enables public stock market investors to invest in private equity type transactions. SPACs are shell companies that have no operations but go public with the intention of merging with or acquiring a company with the proceeds of the SPAC's initial public offering (IPO). In this case, Cazador, with approximately $46 million in cash and approximately $35 million of additional paid in capital if the outstanding shareholder warrants are exercised, is the SPAC that will be merged with Net Element.