Pensare Acquisition Corp. Announces Intent to Close Initial Business Combination with Stratos Management Systems, Inc. on or about April 6, 2020

ATLANTA, April 03, 2020 (GLOBE NEWSWIRE) — Pensare Acquisition Corp. (Nasdaq: WRLS, WRLSU, WRLSW, WRLSR) (the “Company”) today announced that it intends to close the previously announced business combination (the “Business Combination”) with Stratos Management Systems, Inc. (“Computex”) on or about Monday, April 6, 2020, as contemplated by the Business Combination Agreement, dated as of July 25, 2019, as amended, by and among the Company, Computex, Tango Merger Sub Corp. and Stratos Management Systems Holdings, LLC. The Business Combination was approved by the Company’s stockholders at the special meeting of stockholders held on February 27, 2020.

About Pensare Acquisition Corp.

Pensare Acquisition Corp. is a special purpose acquisition company that went public on Nasdaq in July 2017 and was formed for the purpose of effecting a merger, acquisition or similar business combination in the telecommunications, media, and technology (TMT) industries. Pensare is led by Chairman Larry Mock, Chief Executive Officer Darrell J. Mays, President Robert Willis, and Chief Strategy Officer David Panton. Pensare’s securities are quoted on the Nasdaq stock exchange under the ticker symbols WRLS, WRLSW, WRLSR and WRLSU. For more information, visit www.pensaregrp.com.

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, “intend”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect our expectations as of the date of this press release. We anticipate that subsequent events and developments will cause our assessments to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Additional information concerning factors that may impact our expectations and projections can be found in our periodic filings with the Securities Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended March 31, 2019, and in the proxy statement filed by the Company with the SEC on February 13, 2020. Our SEC filings are available publicly on the SEC’s website at http://www.sec.gov.