Investcorp India Acquisition Corp, a blank check company formed by Investcorp Group targeting businesses in India, has raised $225 million for its IPO after pricing its 22.5 million shares at $10 per share. The stock began trading May 10, 2022 on the NASDAQ under the ticker symbol “IVCAU.” Credit Suisse Securities (USA) LLC is the sole underwriter.
NEW YORK–(BUSINESS WIRE)–Investcorp India Acquisition Corp (NASDAQ: IVCAU) (the “Company”), a newly incorporated blank check company, today announced the pricing of its initial public offering of 22,500,000 units at a price of $10.00 per unit. The units will be listed on the Nasdaq Global Market (“NASDAQ”) and are expected to trade under the ticker symbol “IVCAU” beginning on May 10, 2022.
Each unit consists of one Class A ordinary share and one-half of one redeemable warrant of the Company. Each whole warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares and warrants are expected to be traded on NASDAQ under the symbols “IVCA” and “IVCAW,” respectively.
The Company was formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While the Company may pursue a business combination target in any business, industry or geographical location, it intends to focus its search for a target located in India in industries the Company expects to have a high-potential for growth and for generating strong returns for its shareholders.
Credit Suisse Securities (USA) LLC is the sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,375,000 units at the initial public offering price to cover over-allotments, if any.
The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC: 6933 Louis Stephens Drive, Morrisville, NC, 27560, Attn: Prospectus Department or by e–mail at firstname.lastname@example.org.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 9, 2022. The offering is expected to close on May 12, 2022, subject to customary closing conditions.
This press release 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 jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.