Seven Islands, a SPAC sponsored by James Murdoch and former STAR India CEO, Uday Shankar, has decided to abandon its earlier plan to raise $300 million through an IPO in the US, the Business Standard reports.
Seven Islands will now make their investments through Bodhi Tree Systems.
The SPAc initially registered the offering with the SEC in May 2021 with plans “to capitalize on the extensive experience of our sponsor group and management team to pursue an initial business combination in the media, entertainment, consumer technology, healthcare, and education industries in Southeast and South Asia, with a particular focus on India.” Read more.
