Australia's Bigtincan hits near 3-week high on proposed Nasdaq listing

Bigtincan Holdings

21/10/2024 01:57

** Shares of Bigtincan Holdings  BTH.AX  rise as much as 14.7%
to A$0.195, their highest level since Oct 3
** Software co announces proposed listing on Nasdaq through a
business combination agreement with Investcorp AI Acquisition
Corp (IAAC)
    ** If implemented, co will list on Nasdaq through a newly
formed co called Bigtincan Ltd which will have an implied
pre-money equity valuation of $275 mln
    ** Says Investcorp Cayman Holdings, an affiliate of IAAC,
has committed to invest $12.5 mln in Bigtincan Ltd
    ** Bigtincan Ltd will seek to raise up to $25.0 mln from
institutional investors and up to $25 mln in debt finance 
    ** Stock down 8.5% YTD as of last close 
       

(Reporting by John Biju in Bengaluru)
((mailto:John.Biju@thomsonreuters.com;))