Aeries Technology, a leading global professional services and consulting partner, has successfully finalized its merger with Worldwide Webb Acquisition Corp, a publicly traded special purpose acquisition company. The merger, announced earlier, was officially concluded on November 6, 2023.
In the wake of the announcement, the stock of Worldwide Webb Acquisition Corp experienced a significant decline in trading today.
At the time of this publication, Worldwide Webb Acquisition Corp stock (WWAC) has witnessed a decline.
Worldwide Webb Acquisition Corp
Current Price: $2.98
Change : -4.22
Change (%): (-58.61%)
Volume: 742.6K
Source: Tomorrow Events Market Data
Starting November 8, 2023, the ordinary shares and warrants of the combined entity, now operating as Aeries Technology, Inc., will be listed on The Nasdaq Stock Market LLC under the symbols “AERT” and “AERTW”, respectively. The merger received unanimous approval at a General Meeting of Worldwide Webb Acquisition Corp.’s shareholders held on November 2, 2023.
Aeries Technology stands as a global professional management services partner, providing an array of management consultancy services to private equity sponsors and their portfolio companies. These services encompass software solutions, product management, IT infrastructure, information and cyber security, ERP and CRM platform management, business process management, and digital transformation services. The firm distinguishes itself with a unique operational model that commits its employees to projects with the same dedication as internal staff, ensuring each engagement receives the necessary time and depth to implement solutions and drive transformative changes in a client’s business operations. Currently, Aeries serves over 30 clients across various industries in the U.S. and international markets.
Aeries has entered into binding non-redemption and equity purchase agreements, and is actively engaged in discussions with reputable institutions to secure additional capital, based on indicative terms sheets, in order to execute on its previously announced organic growth and M&A strategy.
Further details regarding the transaction terms will be outlined in a Current Report on Form 8-K, which Aeries will file with the U.S. Securities and Exchange Commission (SEC).
To commemorate the successful completion of the Business Combination, Aeries will ring the Closing Bell at the NASDAQ at 4:00 p.m. ET on November 7, 2023.
Capital markets advisors for Aeries were D.A. Davidson & Company and Roth MKM, while legal counsel for Aeries and Worldwide Webb Acquisition Corp were provided by Norton Rose Fulbright and Kirkland & Ellis LLP, respectively.
