Cartica Acquisition, a blank check company backed by Cartica Management targeting India-focused tech businesses, raised $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Affiliates of the sponsor had indicated on $20 million worth of units in the offering (10% of the deal), and the company may raise an additional $30 million (shares only) at the closing of an acquisition pursuant to a forward purchase agreement with the sponsor.
The company is led by Chairman Asif Ramji, the former Chief Growth Officer of Fidelity National Information Services (NYSE: FIS), and CEO and Director Sanjeev Goel, the Managing Head of Global Value Creation Partners FZE. Farida Khambata and Steven Quamme, the co-founders of emerging markets-focused asset management firm Cartica Management, serve as Directors.
Cartica Acquisition plans to list on the Nasdaq under the symbol CITEU. J.P. Morgan acted as sole bookrunner on the deal.
