Net Element (OTCQB:NETE) Raises $81M, Merges with Cazador Acquisition Corporation (NASDAQ: CAZA)

Net Element (OTCQB:NETE), a Miami technology services provider and Internet publisher, has merged with  Cazador Acquisition Corporation (NASDAQ: CAZA). The combined entity, which will be named “Net Element International,” is applying to be listed on NASDAQ under the ticker symbol “NETE.” The merger agreement will infuse up to $81M into Net Element and provide the necessary financial resources for the company’s next stage of growth. Upon completion of the business combination, Net Element, which currently operates several entertainment and lifestyle online destinations and is developing a mobile commerce and payment-processing platform for emerging markets, will name Cazador’s current CEO, Francesco Piovanetti, as its CEO. Net Element also will add several key members of Cazador’s asset management team. Read more here.