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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 (NASDAQ: IVCAU) has successfully closed its initial public offering (IPO) of 25,875,000 units at $10.00 each, securing gross proceeds of $258,750,000. The units, which began trading on NASDAQ on May 10, 2022, consist of one Class A ordinary share and one-half of a redeemable warrant. Each full warrant can be redeemed for one share at $11.50. Credit Suisse Securities (USA) LLC served as the sole book-running manager for this offering, which was registered with the SEC on May 9, 2022.
Investcorp India Acquisition Corp (NASDAQ: IVCAU) has announced the pricing of its initial public offering (IPO) of 22,500,000 units at $10.00 per unit. The offering will commence trading on NASDAQ on May 10, 2022. Each unit consists of one Class A ordinary share and one-half redeemable warrant, with each whole warrant priced at $11.50 per share. The underwriter, Credit Suisse Securities, has a 45-day option to purchase an additional 3,375,000 units. The IPO is expected to close on May 12, 2022, pending customary conditions.
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