Inception Growth Acquisition Limited (NASDAQ:IGTA), a publicly traded special purpose acquisition company with a market capitalization of $45.65 million and current trading price of $11.75, has filed a supplement to its definitive proxy statement with the Securities and Exchange Commission on Monday, December 2, 2024.
The trust account, which was established as part of Inception Growth's initial public offering (IPO), is subject to a proposed extension that would allow the company to delay the commencement of liquidation by up to six additional months.
In other recent news, Inception Growth Acquisition Ltd has made significant strides towards its merger with AgileAlgo Holdings Ltd. The company has entered into key agreements, which include the conversion of sponsor loans and the settlement of underwriting fees. Inception Growth Acquisition Ltd has reached a Sponsor Loan Conversion Agreement with Soul Venture Partners LLC, which will convert all loans into shares of common stock in the post-merger entity.
Additionally, an agreement with EF Hutton LLC has been signed, wherein EF Hutton will accept shares and a promissory note instead of a cash deferred commission. These developments come as Inception Growth Acquisition Ltd prepares for its business combination with AgileAlgo, where AgileAlgo will become a subsidiary of the newly formed entity.
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