Aeries Technology, Inc. Announces $5 Million PIPE

Rhea-AI Summary

Aeries Technology, Inc. secures a $5 million investment through a Subscription Agreement, enhancing its growth strategy. The private placement at $2.21 per share signifies a positive step for the company's future.

NEW YORK, April 12, 2024 (GLOBE NEWSWIRE) -- Aeries Technology, Inc. (“Aeries” or “the Company”) (Nasdaq: AERT), a global professional services and consulting partner, today announced that it has entered into a Subscription Agreement totaling $5 million at a purchase price of $2.21 per share in a private placement.

Sudhir Panikassery, Aeries CEO, said: “This $5 million investment in Aeries is in important step for our growth strategy. We are grateful for the commitment and support we have received from our new PIPE investor. We look forward to welcoming this investor and working with this investor on the exciting next phase of Aeries’ growth story.”

Norton Rose Fulbright represented Aeries Technology in this transaction.

About Aeries Technology
Aeries Technology (Nasdaq: AERT) is a global professional services and consulting partner for businesses in transformation mode and their stakeholders, including private equity sponsors and their portfolio companies, with customized engagement models that are designed to provide the right mix of deep vertical specialty, functional expertise, and digital systems and solutions to scale, optimize and transform a client’s business operations. Founded in 2012, Aeries Technology now has over 1,600 professionals specializing in Technology Services and Solutions, Business Process Management, and Digital Transformation initiatives, geared towards providing tailored solutions to drive business success. Aeries Technology’s approach to staffing and developing its workforce has earned it the Great Place to Work Certification.

Contacts
Ryan Gardella
AeriesIR@icrinc.com

FAQ

What is the amount of the Subscription Agreement secured by Aeries Technology, Inc.?

Aeries Technology, Inc. secured a $5 million investment through the Subscription Agreement.

At what price per share was the private placement made by Aeries Technology, Inc.?

The private placement was made at a purchase price of $2.21 per share by Aeries Technology, Inc.

Who represented Aeries Technology in the transaction for the $5 million investment?

Norton Rose Fulbright represented Aeries Technology in the transaction for the $5 million investment.

What was the CEO of Aeries Technology, Inc., Sudhir Panikassery's comment on the investment?

Sudhir Panikassery, the CEO of Aeries Technology, Inc., mentioned that the $5 million investment is an important step for their growth strategy.