Cartica Acquisition in an 8-K said 2,302,545 Class A shares were submitted for redemption ahead of tomorrow’s extension vote. That leaves 1,911,870 public shares outstanding (excluding 4,750,000 Class A shares held by the sponsor that were converted from an equal number of Class B shares).
Cartica’s sponsor has agreed to loan the SPAC $40,000 pewr month for deposits into trust up to Jan. 7, 2025 if the extension proposal is approved.
The SPAC held $46.68 million as of March 1, according to a proxy filing.
Cartica originally raised $200 million in a January 2022 IPO with plans to focus on a business combination with an India-based technology firm. Read more.
