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IVEST-sponsored Swiftmerge seeks $200m from Nasdaq IPO

Swiftmerge Acquisition Corp, a newly formed blank check company, has priced its initial public offering of units on Nasdaq to raise $200 million.

Swiftmerge Acquisition Corp, a newly formed blank check company, has priced its initial public offering of units on Nasdaq to raise $200 million. The units are expected to trade under the ticker symbol “IVCPU” beginning December 15. Swiftmerge, which is targeting acquisition opportunities involving technology-enabled consumer companies, is sponsored by Canadian private equity firm IVEST Consumer Partners.

PRESS RELEASE

Swiftmerge Acquisition Corp. Announces Pricing of $200 Million Initial Public Offering

December 14, 2021

WEST VANCOUVER, British Columbia–(BUSINESS WIRE)–Swiftmerge Acquisition Corp. (the “Company”), a newly incorporated blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units are expected to be listed on the Nasdaq Global Market (the “Nasdaq”) and trade under the ticker symbol “IVCPU” beginning December 15, 2021. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Company expects that the Class A ordinary shares and redeemable warrants will be listed on Nasdaq under the symbols “IVCP” and “IVCPW,” respectively.

The Company is sponsored by Swiftmerge Holdings, LP, an affiliate of IVEST Consumer Partners LLC (“IVEST”). The Company will be led by IVEST management team members George Jones, John “Sam” Bremner, Christopher J. Munyan and Aston Loch. While the Company may pursue an initial business combination target in any industry, it currently intends to pursue opportunities targeting disruptive consumer companies utilizing technology and the internet to evolve the way that consumers interact with the market.

BofA Securities is acting as sole book-running manager and sole underwriter for the offering. The Company has granted the underwriter 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 expected to close on December 17, 2021, subject to customary closing conditions.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from BofA Securities, Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina, 28255-0001, by email at dg.prospectus_requests@bofa.com.

A registration statement relating to the securities became effective on December 14, 2021. 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.