Tiger Brokers

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

Reuters
Oct 21, 2024

** Shares of Bigtincan Holdings 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;))

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