Cartica Acquisition Corp, a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. Although the Company may pursue a business combination partner in any industry or sector, it intends to focus its efforts on completing a business combination with an India-based technology firm.
The units will be listed on the Nasdaq Global Market (“Nasdaq”) and trade under the ticker symbol “CITEU” beginning January 5, 2022. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Only whole warrants are exercisable. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “CITE” and “CITEW”, respectively. The offering is expected to close on January 7, 2022, subject to customary closing conditions.
J.P. Morgan Securities LLC is acting as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price, to cover over-allotments, if any.