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Investcorp India Acquisition Corp (Nasdaq: IVCA) has announced a corporate name change to Investcorp AI Acquisition Corp. This decision follows shareholder approval at an Extraordinary General Meeting held on October 15, 2024. The company has filed an amendment to its Amended and Restated Memorandum and Articles of Association with the Cayman Islands Registrar of Companies to reflect this change. Despite the name change, IVCA's Nasdaq ticker symbol will remain unchanged.
Investcorp India Acquisition Corp. (IVCA) has nearly completed due diligence and negotiations with Bigtincan Holdings (BTH) for a proposed business combination. The deal would bring BTH to Nasdaq at an implied equity value of US$275 million (~A$0.47 per BTH share). Key points include:
- Investcorp to commit US$12.5 million equity investment
- BTH to be delisted from ASX
- Investcorp to own ~20% of Pubco at ~US$4.73 per share
- Cash facility for BTH shareholders with <5,000 shares at ~A$0.235 per share
- Continued investment in Australia, including potential AI Technology Center in Tasmania
- Transaction subject to definitive agreements, shareholder approvals, and regulatory clearances
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