Investcorp India Acquisition Corp Announces Closing of $258,750,000 Initial Public Offering
May 12 2022 - 4:05PM
Business Wire
Investcorp India Acquisition Corp (NASDAQ: IVCAU) (the
“Company”), a newly incorporated blank check company, today
announced that it closed its initial public offering of 25,875,000
units at a price of $10.00 per unit, including 3,375,000 units
pursuant to the full exercise of the underwriters' overallotment
option. The gross proceeds from the offering were $258,750,000
before deducting underwriting discounts and estimated offering
expenses. The units began trading on the Nasdaq Global Market
(“NASDAQ”) under the ticker symbol “IVCAU” 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 share of common stock of the Company 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.
Credit Suisse Securities (USA) LLC acted as the sole
book-running manager for the offering.
The offering was made only by means of a prospectus, copies of
which may be obtained by contacting Credit Suisse Securities (USA)
LLC: 6933 Louis Stephens Drive, Morrisville, NC, 27560, Attn:
Prospectus Department or by e–mail at
usa.prospectus@credit-suisse.com.
A registration statement relating to the securities was declared
effective by the U.S. Securities and Exchange Commission (the
“SEC”) on May 9, 2022.
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.
Forward Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
anticipated use of the net proceeds thereof and with respect to any
business combination or acquisition opportunity. No assurance can
be given that the offering discussed above will be completed on the
terms described, or at all, or that the net proceeds of the
offering will be used as indicated. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company's registration statement and
preliminary prospectus for the Company's offering filed with the
SEC. Copies of these documents are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220512006018/en/
MEDIA: Brian Ruby, ICR, brian.ruby@icrinc.com
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