Investcorp India Acquisition Corp. Files Q2 2024 10-Q

TL;DR

**Investcorp India Acquisition Corp. 10-Q filed. Financials updated as of 06/30/24. Warrant liabilities noted.**

AI Summary

Investcorp India Acquisition Corp. filed its 10-Q for the period ending June 30, 2024. The filing details financial statements and disclosures, including changes in fair value of warrant liabilities. The company's address is Century Yard, Cricket Square, Elgin Avenue, PO Box 1111, George Town, Grand Cayman, E9, KY1-1102.

Why It Matters

This 10-Q filing provides investors with an update on Investcorp India Acquisition Corp.'s financial performance and position as of June 30, 2024, which is crucial for assessing the company's ongoing operations and potential future value.

Risk Assessment

Risk Level: medium — As a Special Purpose Acquisition Company (SPAC), Investcorp India Acquisition Corp. faces inherent risks related to its ability to identify and complete a business combination within its specified timeframe.

Key Numbers

• 2024-06-30 — Reporting Period End Date (This is the end date for the financial data presented in the 10-Q.)
• 2023-12-31 — Previous Year End Date (Provides a comparative point for financial analysis.)
• 2024-04-01 to 2024-06-30 — Second Quarter 2024 Period (Specific period for which financial results are reported.)
• 2023-04-01 to 2023-06-30 — Second Quarter 2023 Period (Comparative period for the second quarter of the prior year.)
• 2024-01-01 to 2024-06-30 — First Six Months 2024 Period (Year-to-date financial results for 2024.)

Key Players & Entities

• Investcorp India Acquisition Corp. (company) — Filer of the 10-Q
• June 30, 2024 (date) — End of the reporting period
• Century Yard, Cricket Square, Elgin Avenue, PO Box 1111, George Town, Grand Cayman, E9, KY1-1102 (address) — Company's business and mailing address
• Investcorp Acquisition Corp. (company) — Former company name
• March 23, 2021 (date) — Date of former company name change

FAQ

Key Financial Figures

• $0.0001 — LC Class A ordinary shares, par value $0.0001 per share IVCA The Nasdaq Stock Mar
• $11.50 — ary share, each at an exercise price of $11.50 per share IVCAW The Nasdaq Stock Ma
• $0 — ,446 Class A ordinary shares, par value $0.0001, and 6,468,750 of the registrant's

Filing Documents

• d812197d10q.htm (10-Q) — 621KB
• d812197dex311.htm (EX-31.1) — 8KB
• d812197dex312.htm (EX-31.2) — 8KB
• d812197dex321.htm (EX-32.1) — 4KB
• d812197dex322.htm (EX-32.2) — 4KB
• 0001193125-24-203697.txt ( ) — 3848KB
• ivca-20240630.xsd (EX-101.SCH) — 40KB
• ivca-20240630_cal.xml (EX-101.CAL) — 18KB
• ivca-20240630_def.xml (EX-101.DEF) — 229KB
• ivca-20240630_lab.xml (EX-101.LAB) — 274KB
• ivca-20240630_pre.xml (EX-101.PRE) — 266KB
• d812197d10q_htm.xml (XML) — 516KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Condensed Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Statements of Operations for the three and six months ended June 30, 2024 (Unaudited) and June 30, 2023 (Unaudited) 4 Condensed Statements of Changes in Shareholders' Deficit for the three and six months ended June 30, 2024 (Unaudited) and June 30, 2023 (Unaudited) 5 Condensed Statements of Cash Flows for the six months ended June 30, 2024 (Unaudited) and June 30, 2023 (Unaudited) 6 Notes to Condensed Financial Statements (Unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 31 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM1. FINANCIAL STATEMENTS. INVESTCORP INDIA ACQUISITION CORP CONDENSED BALANCE SHEETS June 30, 2024 (Unaudited) December 31, 2023 ASSETS Current Assets Cash $ 272,826 $ 276,777 Other assets – current 52,584 192,366 Total current assets 325,410 469,143 Cash and securities held in Trust Account 111,451,040 108,031,746 Total Assets $ 111,776,450 $ 108,500,889 LIABILITIES, REDEEMABLE ORDINARY SHARES AND SHAREHOLDERS' DEFICIT Current Liabilities Accrued expenses 513,293 $ 631,810 Working Capital Loan - Sponsor 780,000 300,000 Convertible Promissory Note - Sponsor 1,100,000 500,000 Due to Sponsor 239,886 231,834 Total current liabilities 2,633,179 1,663,644 Warrant liability 1,161,001 870,751 Total Liabilities 3,794,180 2,534,395 Commitments and Contingencies (Note 6) Class A common stock: 9,789,446 shares subject to possible redemption a t June 30, 2024 and December 31, 2023 111,451,039 108,031,746 Shareholders' Deficit Preference shares, $ 0.0001 par value; 1,000,000 shares authorized; no ne outstanding — — Class A ordinary shares, $ 0.0001 par value; 479,000,000 shares authorized; no ne issued or outstanding — — Class B ordinary shares, $ 0.0001 par value; 20,000,000 shares authorized; 6,468,750 shares issued and outstanding 647 647 Additional paid in capital — — Accumulated deficit ( 3,469,416 ) ( 2,065,899 ) Total Shareholders' Deficit ( 3,468,769 ) ( 2,065,252 ) Total Liabilities and Shareholders' Deficit $ 111,776,450 $ 108,500,889 The accompanying notes are an integral part of the unaudited condensed financial statements 3 Table of Contents INVESTCORP INDIA ACQUISITION CORP CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Formation costs and operating expenses $ 319,152 $ 520,593 $ 513,267 $ 845,718 L

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