Inception Growth Acquisition Limited and AgileAlgo Pte Ltd., a maker of enterprise-grade natural language code generator for machine-learning and data management platforms, today announced they have signed a binding letter of intent for a potential business combination.
Under the terms of the LOI, Inception Growth and AgileAlgo would merge, with AgileAlgo’s existing equity holders rolling 100% of their investments into the combined public company.
Tomorrow would mark the SPAC’s merger deadline 18 months after closing a $90 million IPO on Dec. 13, 2021.
Inception Growth said it expects to announce additional details when a definitive merger agreement is executed.
The SPAC has been targeting businesses in the United States or Asia (excluding China) with a focus in the technology, media and telecom (TMT), sports and entertainment, and/or non-gambling gaming sectors. Read more.
