Brief: Near To Go Public On Nasdaq Via A Merger With Kludein I Acquisition Corp

Near Intelligence

19/05/2022 11:30

May 19 (Reuters) - NEAR:
    * NEAR TO GO PUBLIC ON NASDAQ VIA A MERGER WITH KLUDEIN I
ACQUISITION CORP
    * KLUDEIN I ACQUISITION CORP - NEAR WOULD HAVE
POST-TRANSACTION
PRO-FORMA MARKET CAPITALIZATION OF NEARLY $1 BILLION
    * KLUDEIN I ACQUISITION CORP - NEAR SECURED $100 MILLION
EQUITY
FINANCING FACILITY FROM CF PRINCIPAL INVESTMENTS LLC
    * KLUDEIN I ACQUISITION CORP - TRANSACTION EXPECTED TO
GENERATE
GROSS PROCEEDS OF $268 MILLION
    * KLUDEIN I ACQUISITION CORP - NEAR'S EXISTING EQUITY
HOLDERS,
AGREED TO CONVERT 100% OF THEIR OWNERSHIP STAKES INTO NEW CO
    * KLUDEIN I ACQUISITION CORP - NEAR'S EXISTING EQUITY
HOLDERS ARE
EXPECTED TO OWN ABOUT 68% OF COMBINED CO
    * KLUDEIN I ACQUISITION CORP - COMBINED CO WILL BE NAMED
NEAR
INTELLIGENCE INC & IS EXPECTED TO TRADE ON NASDAQ UNDER TICKER
SYMBOL "NIR"


 ((Reuters.Briefs@thomsonreuters.com;))