KludeIn I (INKA) Lowers Near’s Valuation in Deal Tweak
by Nicholas Alan Clayton on 2022-12-27 at 4:53pm

KludeIn I Acquisition Corp. (NASDAQ:INKA) announced in an 8-K this afternoon that it has lowered the valuation for its combination target Near while pushing out the deal’s outside date from January 11 to April 11.

Near’s base value is to go down 14.8% from $675 million to $575 million, plus any proceeds brought in by the transaction’s permitted equity financing. In exchange for this concession, KludeIn I’s sponsor has also agreed to forfeit 237,500 promote shares (5.5%).

Pasadena, CA-based Near helps businesses better understand consumer behavior to unlock growth strategies through data intelligence solutions. The parties initially announced their combination on May 19.

At announcement, KludeIn I noted it aimed to arrange a $95 million, but has not yet outlined specific arrangements for this. The deal did however include a $100 million committed equity facility funded by Cantor Fitzgerald, under which it could be directed to purchase shares following the transaction’s close.

An earlier tweak to the deal in November also allowed Near to borrow up to $100 million in debt, with such amounts to be counted towards the transaction’s $95 million minimum cash condition. This is apparently to come from Blue Torch Capital, according to a company press release.

KludeIn I is to hold a special meeting on January 6 to extend the SPAC’s transaction deadline to April 11.

 

KludeIn I (INKA) Lowers Near’s Valuation in Deal Tweak
Recent Posts
by Kristi Marvin on 2025-07-16 at 5:33pm

Pyrophyte Acquisition Corp. II (NYSE:PAII.U) announced the pricing of its $175 million IPO and its units are expected to begin trading on the NYSE under the symbol “PAII.U”, Thursday, July 17, 2025. The new SPAC plans to focus its search on companies within the energy sector that constitute critical links in the supply chain of the...

by Nicholas Alan Clayton on 2025-07-16 at 8:18am

At the SPAC of Dawn Rare earth miner MP Materials (NYSE:MP) was one of the early winners of the 2020 SPAC boom, having picked up momentum following its 2020 deal with Fortress Value. But, the company’s news that it will become a major supplier of battery materials for Apple’s empire of electronic devices has sent...

by Nicholas Alan Clayton on 2025-07-15 at 7:20pm

Solarius Capital Acquisition Corp. (NASDAQ:SOCAU) announced the pricing of its $150 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “SOCAU”, Wednesday, July 16, 2025. The new SPAC plans to combine with a target in the asset management, wealth management or financial services industries. Solarius Capital’s management team...

by Nicholas Alan Clayton on 2025-07-15 at 10:47am

Exciting new things are coming for SPACInsider subscribers, and some have already arrived! This summer, SPACInsider is unveiling the SPACInsider Alerts App on iOS with an Android launch soon to follow. The app allows subscribers to stay ahead of the SPAC market with real-time, customizable filing alerts with instant notifications landing the moment that a...

by Nicholas Alan Clayton on 2025-07-15 at 8:29am

At the SPAC of Dawn Futures are largely green with the CPI reading coming up, and several SPACs and de-SPACs have cause to feel bullish regardless of what the reading states. Pharma and beauty company Longevity Health (NASDAQ:XAGE) announced it will acquire plasma collection firm True Health ahead of market open in news that has...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved