Alpha Modus To List On Nasdaq Via Business Combination Agreement With Insight Acquisition Corp; Proposed Business Reflects An Implied Pro-Forma Enterprise Value Of ~$175M
Portfolio Pulse from Benzinga Newsdesk
Alpha Modus, an AI business developing data-driven technologies for enhancing in-store digital experiences, is set to list on Nasdaq through a business combination agreement with Insight Acquisition Corp. The proposed business reflects an implied pro-forma enterprise value of approximately $175 million. The transaction reflects high confidence of closing, with no minimum cash condition.
October 16, 2023 | 12:09 pm
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POSITIVE IMPACT
Insight Acquisition Corp (INAQ) is entering a business combination agreement with Alpha Modus, an AI business. The deal reflects an implied pro-forma enterprise value of approximately $175 million.
The news of the business combination agreement between INAQ and Alpha Modus is directly relevant to INAQ. The high confidence of closing and the significant implied enterprise value of the deal could potentially drive INAQ's stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100