Cartica Acquisition Corp
CITEW
NASDAQ Global Select0.26
USD
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Cartica Acquisition Corp
CITEW
(NASDAQ Global Select)
Recent
price
0.26
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Cartica Acquisition Corp (NASDAQ: CITE, CITEU, CITEW) is a blank check company incorporated in the Cayman Islands in 2021 and headquartered in Washington, D.C., that seeks to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting technology firms with a focus on India-based or Asia-focused opportunities valued at $1 billion or more. The company offers investors public market exposure to high-growth technology entities through its special purpose acquisition structure, including Class A ordinary shares, redeemable warrants exercisable at $11.50 per share, and units comprising one share and one-half warrant; it leverages the global investment expertise of its management team, including CEO Suresh Guduru and affiliates of Cartica Management, LLC, to source and execute value-creating transactions in sectors such as artificial intelligence, high-performance computing, and tech-enabled infrastructure. Cartica operates principally in the United States capital markets with a strategic emphasis on Asian technology targets and maintains no current revenue-generating operations pending a business combination. In June 2024, Cartica announced a definitive merger agreement with Nidar Infrastructure Limited and Yotta Data and Cloud Limited, valuing the transaction at approximately $4.15 billion, under which a wholly-owned subsidiary of Nidar merges with Cartica, followed by Cartica merging into Nidar to create a publicly-listed entity focused on AI data centers and infrastructure; the deal advanced with the effectiveness of the Form F-4 registration statement on November 5, 2025, and a shareholder approval vote rescheduled for December 4, 2025, after prior extensions of its combination deadline to early 2026 and multiple amendments to the merger terms. Recent developments include a Nasdaq delisting notice in November 2024 due to insufficient independent directors on its audit committee following a board resignation, alongside high redemptions during prior extension votes that reduced trust cash levels.