Tech and software SPAC KludeIn I Acquisition prices $150 million IPO at $10

KludeIn I Acquisition, a blank check company targeting software or technology-enabled growth businesses, raised $150 million by offering 15 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Anchor investor Polar Asset Management Partners had indicated on 9.9% of units in the offering.

The company is led by CEO and Chairman Narayan Ramachandran, co-founder of social enterprise incubator InKlude Labs and KludeIn Ventures, and Chairman and General Partner of KludeIn Management. He is joined by CFO and Director Mini Krishnamoorthy, CFO and Head of Data Analytics for ZeeMee; Co-President Sriram Raghavan, co-founder and a General Partner of KludeIn; and Co-President Ashish Gupta, an independent business consultant, and co-founder and Senior Managing Director of Helion Ventures.

KludeIn I Acquisition plans to target a high-quality software or technology-enabled growth business serving consumers or enterprises in the US, focusing on those with an enterprise value between $500 million and $1.5 billion.

KludeIn I Acquisition plans to list on the Nasdaq under the symbol INKAU. BTIG acted as a lead manager on the deal.