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Cartica Acquisition ( (CRTAF) ) has shared an announcement.
On January 7, 2026, Cartica Acquisition Corp, Nidar Infrastructure Limited and Yotta Data and Cloud Limited formally terminated their previously announced merger agreement, unwinding the planned business combination and related lock-up and support arrangements. Under the termination terms, Nidar agreed to pay Cartica $7 million in seven monthly installments from January 31 to July 31, 2026 to cover deal-related expenses, fund an insurance policy and provide limited indemnification for certain third-party claims, while mutual releases were granted among Cartica, Nidar, their affiliates and representatives, excluding claims based on fraud or breaches of the termination and confidentiality agreements. As part of the same package, Cartica’s sponsor released Cartica from all amounts owed, including prior promissory notes, in exchange for a $21.9 million convertible note and a warrant from Nidar that give the sponsor equity-linked upside tied to any future qualified equity offering by Nidar or its affiliates, and a separate backstop side letter was put in place to ensure Cartica receives the agreed expense payments if Nidar fails to pay. Because the business combination will not proceed and no alternative transaction is available before Cartica’s February 7, 2026 deadline, the SPAC will cease operations on that date except for winding up, redeem all outstanding public shares for the cash held in its trust account within ten business days, and then move to dissolve and liquidate in line with Cayman Islands law, effectively returning remaining capital to shareholders and ending its lifecycle without completing a merger.
More about Cartica Acquisition
Cartica Acquisition Corp is a Cayman Islands-exempted special purpose acquisition company (SPAC) formed to consummate a business combination, typically by merging with or acquiring an operating business. Its structure centers on raising capital through a public listing and holding funds in a trust account until completing a qualifying transaction within a defined timeframe set out in its constitutional documents.
Average Trading Volume: 3,336
Technical Sentiment Signal: Buy
Current Market Cap: $83.5M
See more data about CRTAF stock on TipRanks’ Stock Analysis page.