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Investcorp AI Acquisition Corp. (Nasdaq: IVCA) has released a Q&A webcast discussing its proposed business combination with Bigtincan Holdings (ASX: BTH). The webcast is available on SPAC's website. The merger agreement involves BTH Merger Sub and Bigtincan (Pubco), which will result in Bigtincan becoming a wholly owned subsidiary of Pubco. Upon shareholder approval and other closing conditions, Pubco will be listed on Nasdaq. The transaction is expected to close in the first quarter of 2025.
Investcorp AI Acquisition Corp. (IVCA) has agreed to combine with Bigtincan Holdings (ASX:BTH) through a newly formed company, Bigtincan , to be listed on Nasdaq. The deal implies a pre-money equity valuation of US$275 million for Bigtincan. Key aspects include:
- Investcorp committing US$12.5 million investment
- Plans to raise up to US$25 million from institutional investors and US$25 million in debt financing
- Bigtincan shareholders to own ~75% of the new entity
- Cash election option for Bigtincan shareholders at US$0.16145 per share
- Transaction subject to shareholder approvals, regulatory clearances, and other conditions
The deal aims to position Bigtincan as a global leader in AI-driven enterprise software, particularly in sales enablement.
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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