KludeIn I Stockholders Approve Near Merger

KludeIn I Acquisition in a regulagtory filing said shareholders voted in favor of combining with Near, a global SaaS company engaged in privacy-led data intelligence on people, places and products. 

There was no mention of redemptions, if any, however, the transaction is expected to close today. Stock and of the renamed company, Near Intelligence Holdings, are expected to begin trading tomorrow on the Nasdaq under the symbols NIR and NIRW.

KludeIn I in December lowered the value of the deal from $675 million — the aggregate amount of any equity financing — to $575 million, a reduction of nearly 15%. In return, the SPAC's sponsor agreed to forfeit 237,500 founder's shares.

At deal announcement last May, the transaction was expected to generate $268 million of gross proceeds, including a $95 million PIPE. Read more.

Source: KludeIn I Stockholders Approve Near Merger