Ananda Trust, an affiliate of Innovative International Acquisition’s sponsor, invested $10 million in the SPAC’s merger partner Zoomcar in exchange for a convertible promissory note issued by the target.
The $456 million deal was announced less than a week ago.
Founded in 2013, India-based Zoomcar is a car-sharing platform.
If the deal is approved, at closing Zoomcar Holdings expects to list on the Nasdaq. Read more.
