Kludeln I Acquisition Corp. announced the pricing of its $150 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “INKAU” Thursday, January 7.
The new company aims to combine with a software or technology business valued at $500 million to $1.5 billion with the proven ability to scale and execute on a quarterly cadence. Kludeln I is led by CEO and Chairman Narayan Ramchandran alongside CFO Mini Krishnamoorthy and Co-Presidents Sriram Raghavan and Ashish Gupta.
Total SPAC deal count for 2021 year-to-date is now 13 with $2.75 billion in gross proceeds raised. This offering is expected to close on Monday, January 11.
BTIG, LLC is acting as sole book-running manager and I-Bankers Securities, Inc. is acting as co-manager of the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...
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Avalon Acquisition Inc. (NASDAQ:AVAC) announced in an 8-K this morning that it has entered into a prepaid forward purchase agreement with RiverNorth SPAC Arbitrage Fund, the purchaser, as it works to close its combination with financial services firm The Beneficient Company, or Ben. As part of the agreement, RiverNorth agreed to effect certain purchases of shares...
Blue Ocean (NASDAQ:BOCN) has entered into a definitive agreement to combine with digital media company TNL Mediagene at a pre-money enterprise value of $275 million. TNL Mediagene holds the Japanese licenses for a number digital media properties as well as Taipei-based The News Lens. The combined company Is expected to trade on the Nasdaq once...
Priveterra Acquisition Corp. (NASDAQ:PMGM) announced in an 8-K this morning that it plans to adjourn its special meeting to approve its combination with AEON Biopharma from noon today to the same time June 9. The SPAC plans to use this time to further engage with its shareholders as the ballot includes a variety of additional...