Item 8.01. Other Events.
As previously disclosed,on October 13, 2022, Cartica Acquisition Corp, a Cayman
Islands exempted corporation (the "Company"), was advised by Cartica Management,
LLC ("Cartica Management"), the management company for both Cartica Investors,
LP and Cartica Investors II, LP (together, the "Cartica Funds") that the
Cartica Funds will be liquidated in the first half of 2023 (the "Liquidation").
The Cartica Funds, which are affiliates of Cartica Acquisition Partners, LLC,
the sponsor of the Company, entered into a forward purchase agreement at the
time of the Company's initial public offering, pursuant to which the Cartica
Funds agreed to subscribe for an aggregate of up to 3,000,000 Class A ordinary
shares (the "Forward Purchase Shares") for $10.00 per share, or up to
$30,000,000 in the aggregate, in a private placement to close substantially
concurrently with the closing of the Company's initial business combination (the
"Initial Business Combination"), subject to approval at such time by the
investment committee of Cartica Management.
On March 14, 2023, the Company received a written notice from Cartica Management
advising the Company that the investment committee of Cartica Management has
determined that it will not approve the purchase of any Forward Purchase Shares
and therefore the Cartica Funds will not purchase any of the Forward Purchase
Shares in connection with the Initial Business Combination or otherwise. As a
result, the Company may lack sufficient funds to consummate the Initial Business
Combination.
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