Investcorp Acquisition registered with the SEc to offer 25 million units at $10 per unit. Each consists of one Class A ordinary share and one-half of one redeemable warrant, with whole warrants exercisable for a share at $11.50.
Citigroup and Jefferies are joint book-running managers for the offering. The underwriters have a 45-day option to purchase up to an additional 3.75 million units to cover over-allotments, if any.
Investcorp’s acquisition focus is on the consumer, financial, technology, technology-enabled, healthcare or media sectors in primarily India and South East Asia, with an enterprise value between $700 million and $2 billion.
The company is led by Principal Executive Officer Nikhil Kalghatgi, who has been head of alternative investments at S.P. Hinduja Banque Privee since 2020. He was previously a Partner at CoVenture, investing primarily in high-yield asset-backed credit opportunities and creating quantitative trading strategies.
The SPAC intends to apply for a listing on the Nasdaq under IVCAU. Read more.
