Noventiq and Corner Growth Acquisition Corp. Advance Towards Nasdaq Listing

India, Jan 03, 2024: Noventiq Holdings PLC, a global provider of digital transformation and cybersecurity solutions, and Corner Growth Acquisition Corp. (Nasdaq: COOL), a special purpose acquisition company, have jointly filed Form F-4 with the U.S. Securities and Exchange Commission (SEC) in preparation for their proposed business combination. The collaboration is anticipated to result in the listing of the combined entity on Nasdaq under the symbol “NVIQ.”

The business combination agreement, initiated on May 4, 2023, outlines the merger of Noventiq and Corner Growth to create a robust entity with an expected Nasdaq listing. Recent milestones include the completion of a Public Company Accounting Oversight Board (PCAOB) audit on Noventiq’s financial statements for FY22 and FY23, reflecting significant growth. In FY23, the company achieved a reported revenue of $401.8 million, marking a 62.2% increase on a reported currency basis and 70.7% in constant currency. Gross profit also witnessed a substantial rise to $176.1 million, up by 50.9% on a reported currency basis and 60.6% in constant currency.

Noventiq’s commitment to cybersecurity is emphasized by its recent inclusion in the Microsoft Intelligent Security Association and a multi-year Strategic Collaboration Agreement with Amazon Web Services (AWS). The collaboration with AWS aims to support customers in migrating and modernizing their IT workloads and data to the cloud.

The company’s investment in AI technologies is showcased through the launch of Weaver Peer, a knowledge-based AI assistant developed by its subsidiary, Intellya. Weaver Peer, an extension of the Weaver platform, reinforces Noventiq’s diverse AI capabilities, offering global support for businesses undergoing digital transformation.

Hervé Tessler, CEO of Noventiq, stated, “The filing of our F-4 represents a significant milestone in our path towards a Nasdaq listing and broader participation for public investors. We are excited by the opportunity to drive substantial value for all our stakeholders.”

Marvin Tien, Co-Chairman & CEO of Corner Growth, expressed enthusiasm about the collaboration, noting that Noventiq is well-positioned to lead in digital transformation and cybersecurity solutions, bringing compliance, transparency, and financing capabilities to a broader audience.

The proposed business combination is expected to provide Noventiq improved access to capital, accelerate M&A opportunities, and enhance its capabilities in fast-growing technology development, including cybersecurity and generative AI.

The company’s re-domiciliation to the Cayman Islands has been successfully completed, and it has delisted from the London Stock Exchange (LSE) and Moscow Exchange (MoEX) as part of the closing conditions for the transaction. The proposed closing date for the business combination has been extended to [June 30, 2024].

Noventiq’s strategic focus on innovation, compliance, and its commitment to global growth through the proposed Nasdaq listing positions the company for continued success in the dynamic technology landscape.