Bigtincan Holdings (ASX: BTH) has bounced back towards a three-week high after the Sydney-based software-as-a-service company unveiled merger plans that will see it listed on the Nasdaq as soon as next year.
The now-scheduled 2025 listing is in the pipeline after Bigtincan agreed to a $409 million proposal with U.S. asset manager Investcorp AI Acquisition Corp that will see the pair co-list through a new company called “Bigtincan Limited.”
Should everything be green lit by shareholders – a vote is scheduled for November – and okayed by regulatory approvals, the Nasdaq listing will open next February.
HotCopper users across the forums were ecstatic after the news released – many said they were already circling calendars for that Nasdaq opening day.
Interest in the merger saw BTH lift to 18.5cps; one cent shy of its three-week high.
Users were particularly happy with Bigtincan’s confirmation that existing shareholders will own approximately 75% of the new Bigtincan Limited. Investcorp will also invest $18.7m through its Investcorp Cayman Holdings affiliate.
That Investcorp injection comes alongside Bigtincan looking to raise $37.3m from institutional investors. It will also take on up to US$25m in debt finance to support the transaction.
Harsh Shethia, an advisor at Investcorp, said the transaction “offers tremendous value not just for Bigtincan’s shareholders, but also for its customers, employees, and partners.”
“It’s a chance to showcase Australia’s strength in AI innovation, especially in sectors like sales enablement, and position an Australian-born company as a global leader in enterprise software,” Mr Shethia said.
“We’re excited to help Bigtincan take the next step in its journey.”
BTH last traded at 18.5cps today.
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