NEW YORK, Aug. 17, 2017 (GLOBE NEWSWIRE) — I-AM Capital Acquisition Company (Nasdaq:IAMXU), a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, celebrated its initial public offering (IPO) on The Nasdaq Stock Market.
I-AM Capital’s founders, Chief Executive Officer F. Jacob Cherian and Chief Financial Officer Suhel Kanuga, have been focused on investing into India over the last decade, with the distinction of completing the first listed-SPAC investment in India.
”Through our keen focus and unique accomplishments in India over the last decade, we have seen our investment thesis bear fruit: India’s prominence and rise on the world stage, its distinction as being one of the fastest growing major economies of the world, and its strong vibrant consumer demographics. We believe these factors are aligning well now, creating an exciting new set of growth opportunities for U.S. investors in India,” said CEO F. Jacob Cherian.
“I-AM Capital is focused on the fast growing technology, consumer and financial services sectors in India and through its Nasdaq listing offers US investors an innovative way to participate in this exciting growth opportunity,” said CFO Suhel Kanuga.
“Nasdaq congratulates and welcomes I-AM Capital Acquisition Company to join our family of innovators,” said Nelson Griggs, Executive Vice President, Head of Global Listings, Nasdaq. “I-AM Capital is the second Indian focused SPAC to list on Nasdaq this year, making it the 18th SPAC to IPO year to date joining the 34 successful business combinations completed by SPACs listed on Nasdaq since 2010. We look forward to supporting I-AM Capital’s continued growth and success.”
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