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May 2019

mhemani@graphicstylus.net May 31, 2019

Pensare Acquisition Corp. Announces Sponsor’s Intention to Reduce Contributions to Trust Account and Active Discussions with Potential Target Company

ATLANTA, May 31, 2019 (GLOBE NEWSWIRE) -- Pensare Acquisition Corp. (Nasdaq: WRLS, WRLSU, WRLSW, WRLSR) (the “Company”) today announced that the Company’s sponsor will reduce its contributions to the trust account established in connection with the Company’s initial public offering (the “Trust Account”). The Company’s sponsor will continue to pay to the Trust Account $0.033 per Public Share that has not been redeemed per month, but the total monthly payment will be no greater than $200,000.  The Company is currently in active discussions with a target company regarding a potential business combination that is anticipated to require an amount of funding less than the current balance of the Trust Account to consummate the business combination. There can be no assurance that the Company will enter into a business combination agreement with the target company or that this or any other potential business combination will be completed.

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mhemani@graphicstylus.net May 20, 2019

Pensare Acquisition Corp. and TPx Communications Announce Termination of Business Combination Agreement

ATLANTA and LOS ANGELES, May 20, 2019 (GLOBE NEWSWIRE) -- Pensare Acquisition Corp. (NASDAQ: WRLS) (“Pensare”) and U.S TelePacific Holdings Corp. dba TPx Communications (“TPx”) today announced that both parties agreed to mutually terminate the Business Combination Agreement they previously entered into. The termination of the Business Combination Agreement is effective immediately. Pensare intends to continue to pursue a business combination.

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