Aark Singapore Pte. Ltd., and its subsidiary Aeries Technology and Worldwide Webb Acquisition filed a registration statement on their proposed business combination at an implied market capitalization of $656 million.
Announced in March, the deal includes $50 million of additional capital as well as 3.75 million shares to incentivize investors to not redeem during the closing. Aeries’ existing shareholders are rolling 100% of their equity into the transaction.
Worldwide Webb raised $200 million in an October 2021 IPO.
Aeries is a global professional services and consulting firm “specializing in Technology Services, Business Process Management, and Digital Transformation initiatives that are specifically tailored to meet the unique needs of top management and leadership teams of businesses including leading private equity sponsors and their portfolio companies, who are seeking higher operational effectiveness, greater flexibility and consistent, guaranteed cost efficiencies,” according to a press release. Read more.
