secwatch.observer — SEC 8-K summary
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Issuer:     Inception Growth Acquisition Ltd (IGTA)
CIK:        0001866838
Form:       8-K
Filed at:   2023-09-18T23:59:59+00:00
Accession:  0001213900-23-077307
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IGTA (SPAC) enters definitive merger with AgileAlgo at $160M pre-money; combined entity Prodigy, Inc.
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- AgileAlgo valued at $160M pre-money (16M shares at $10/share); SPAC IGTA to merge via Redomestication and Share Exchange.
- 12.5% of shares (2M shares) held in escrow as earnout; full vesting requires $15M revenue in 3 quarters from Oct 2024, partial below $7.5M.
- Combined company renamed Prodigy, Inc.; PubCo board to have 5 directors, majority independent, designated by AgileAlgo.
- Closing conditions include at least $5M cash, Nasdaq listing of PubCo shares, SEC effectiveness of Form S-4; outside date June 13, 2024.
- Sponsor Support Agreement and Company Shareholder Support Agreement executed with 88.3% of AgileAlgo shareholders supporting the deal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866838/000121390023077307/0001213900-23-077307-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866838/000121390023077307/ea185236-8k425_inception.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-077307

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