July 12, 2024

Cartica Acquisition Corp announced a budget of $200 Million IPO

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Cartica Acquisition Corp announced recently the budget for its Initial Public Offering (IPO) of 20,000,000 units at a price of $10.00 per unit. The Cartica is a blank check firm formed with the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business blending with one or more businesses.

Although the firm may pursue out a commercial combination partner in any industry or sector, it intends to focus its efforts on completing a business combination with an India-based technology firm.

The units have been already listed under Nasdaq Global Market and trade under the ticker symbol \”CITEU\” commencing on January 5, 2022. Each unit comprises one Class A ordinary share and one-half of one redeemable warrant. 

As per Cartica announcement, each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the firm at a price of $11.50 per share. Only whole warrants are exercisable. 

As per Cartica reports are concerned, once the securities comprising the units commenced separate trading, the Class A ordinary shares and warrants are all anticipated to be listed on Nasdaq under the symbols \”CITE\” and \”CITEW\”, respectively. The offering will be closing on January 7, 2022, subject to customary closing conditions.

JP Morgan Securities LLC is acting as the sole book-running manager for the offering. The firm has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price, to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: 866-803-9204, email: prospectus-eq_fi@jpmchase.com.

A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the \”SEC\”) as of January 4, 2022. 

This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

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