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.
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....
EQV Ventures II (NASDAQ:EVACU) announced the pricing of its upsized $420 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “EVACU”, Wednesday, July 2, 2025. The new SPAC plans to merge with an energy target involved in upstream exploration or production. EQV II’s management team is led by...
Vendome Acquisition Corporation I (NASDAQ:VNMEU) announced the pricing of its $200 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “VNMEU”, Wednesday, July 2, 2025. The new SPAC plans to focus its search on target business in the consumer sector operating in North America, Southeast Asia, and Europe....
Origin Investment Corp. I (NASDAQ:ORIQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “ORIQU”, Wednesday, July 2, 2025. The new SPAC aims to mount a broad search for a target with a strong management and both revenue and earnings growth potential....