Kludeln I Acquisition Corp. announced the pricing of its $150 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “INKAU” Thursday, January 7.
The new company aims to combine with a software or technology business valued at $500 million to $1.5 billion with the proven ability to scale and execute on a quarterly cadence. Kludeln I is led by CEO and Chairman Narayan Ramchandran alongside CFO Mini Krishnamoorthy and Co-Presidents Sriram Raghavan and Ashish Gupta.
Total SPAC deal count for 2021 year-to-date is now 13 with $2.75 billion in gross proceeds raised. This offering is expected to close on Monday, January 11.
BTIG, LLC is acting as sole book-running manager and I-Bankers Securities, Inc. is acting as co-manager of the offering. Ellenoff Grossman & Schole LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.
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