Catcha Investment entered into an subscription agreement with Polar Multi-Strategy Master Fund, under which Polar agreed to provide a capital contribution of $750,000 directly to the SPAC. In return, Catcha would issue 750,000 Class A shares to Polar at the closing of a business combination and repay the funds to Polar within five business days of the De-SPAC.
The subscription shares are not subject to any transfer restrictions or any other lock-up provisions, earn outs, or other contingencies.
Catcha has a deal in hand with Crown LNG Holding AS, a provider of LNG liquefaction and regasification terminal technologies for harsh weather locations. Catcha and Crown announced the deal in August at a pre-money valuation of approximately $600 million, and a pro forma enterprise value of the combined company at $685 million.
The transaction is expected to provide $50 million of capital.
Catcha’s current deadline extension gives it until February 2024 to complete a deal.
Catcha raised $275 million in a Februrary 2021 IPO to target companies with operations or prospective operations in the technology, digital media, financial technology, or digital services sectors across Asia Pacific, in particular Southeast Asia and Australia. Read more.
