KludeIn I Acquisition in a regulatory filing said it has lowered the value of its proposed deal with Near from $675 million, plus the aggregate amount of any equity financing to $575 million, a reduction of nearly 15%. In return, the SPAC's sponsor will forfeit 237,500 founder's shares.
The merger termination date was extended by three months to April 11, 2023.
Near Intelligence Holdings is a global SaaS company engaged in privacy-led data intelligence on people, places and products.
The SPAC last summer secured loans of more than $2 million from its sponsor to extend the merger deadline, then borrowed $686,690 from Near last month to extend the deadline again. Read more.