Bigtincan flags potential $15m cash facility
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The news: Bigtincan has provided new details of its proposed transaction with Investcorp AI Acquisition Corp. Announced late last month, it may see the software company list on the Nasdaq exchange.
The numbers: The ASX-listed company said one of the parties to the transaction, Pubco, has suggested it will establish a $15 million cash election facility, but added that it had not been activated yet and "it remains uncertain whether it will eventuate".
The company also suggested that at the current USD/AUD exchange rate, the implied pre-money valuation was $0.50 per share, up from $0.48 previously, with shareholders who elect to receive cash in line to receive $0.25 per share.
The context: Bigtincan has been approached numerous times over the past two years by private equity firms including SQN Investors, Siris Capital and Vector Capital Management.
Each time the proposals have fallen apart the company has issued equity raises instead.
The source: ASX announcement
