Souvall-Page and Company, Inc. and American Basketball Association, Inc. have closed a merger and completed equity financing. As a result of the merger, the officers and directors of ABA will also become the officers and directors of Souvall-Page and the shareholders of ABA will continue to control the company. The name of the company will be changed to American Basketball Association. By merging with Souvall-Page, the ABA has taken the backdoor route towards becoming a public company as Souvall-Page trades under the ticker SVAP on the OTCBB.
“The ABA offers exciting, high-quality professional basketball and entertainment at affordable prices,” said Joe Newman, CEO. “Teams in the ABA consist of former NBA players, top Division I, II & III players and international players,” explained Newman, and “team owners include former NBA, NFL, and MLB players as well as entertainers, attorneys, physicians, clergy and businesspeople.”
Souvall-Page has no current business operations or assets; its current sole business has been to seek to acquire, by formation, acquisition, merger or reorganization, a business enterprise that will be beneficial to it and its stockholders.