Yotta Infrastructure Solutions LLP agreed to acquire Cartica Acquisition Corp in a reverse merger transaction for an implied equity value for approximately $2.75 billion.

Yotta Infrastructure Solutions LLP agreed to acquire Cartica Acquisition Corp (NasdaqGM:CITE) in a reverse merger transaction for an implied equity value for approximately $2.75 billion on June 24, 2024. The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders and registration statement effectiveness(S-4 / F-4). The transaction is subject to the Minimum Balance Sheet Cash not being less than the amount needed to pay all SPAC Transaction Expenses at Closing.

The deal has been approved by the boards of both Nidar and Cartica. GLC Securities LLC served as financial advisor to Nidar. Alain Dermarkar and Robert Cardone of Allen Overy Shearman Sterling US LLP, SNG & Partners and Vale Law served as legal counsel to Nidar.

BitOoda Technologies, LLC served as financial Adviser to Cartica. David Slotkin, Joseph Sulzbach and Justin Salon of Morrison & Foerster LLP, Khaitan & Co, Appleby (Cayman) Ltd. and Appleby (as Mauritius legal counsel) served as legal counsel to Cartica.