Corner Growth Acquisition Corp. (Nasdaq: COOL), a publicly traded special purpose acquisition company (SPAC), was seeking to acquire Noventiq Holdings plc (formerly known as Softline Holding plc), an information technology company focusing on digital transformation and cybersecurity. To support their raise and effectively communicate the offering to their shareholders, Corner Growth Acquisition Corp. required a professional set of investment marketing materials.
Challenge
Operating under limited resources to ensure value delivery to shareholders prior to identifying a suitable target, Corner Growth Acquisition Corp. faced constraints in terms of market data analyst capacity. This limited their ability to meet the rapid deadline for the materials needed to support the acquisition of Noventiq. The sophisticated nature of the company size, complex technical aspects, and the added layer of public-facing regulations posed additional challenges.
Solution
The ProAI Advisory team collaborated closely with Corner Growth Acquisition Corp.’s management and team members, conducting interviews over video calls and reviewing the data room and other relevant deal information. Leveraging ProAI’s in-house management consulting toolset, the team efficiently revised the materials and assisted Corner Growth Acquisition Corp. in preparing for the round. Additionally, ProAI’s market research tools ensured that the data included in the deck was sourced from reliable sources.
Impact
With the support of the materials, research, and guidance provided by the ProAI Advisory team, Corner Growth Acquisition Corp. successfully entered into a business combination agreement with Noventiq at a valuation of $330 million on May 4, 2023. The proposed business combination is expected to provide Noventiq with improved access to new sources of capital, accelerate M&A opportunities, and enhance its reach and capabilities in fast-growing technology development areas such as cybersecurity, generative AI, and other high-margin solutions and tools.
Disclaimer: This case study is based on the real experiences of Corner Growth Acquisition Corp. and Noventiq Holdings plc. While the information presented is believed to be accurate, ProAI and its affiliates make no representations or warranties, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The case study is provided for informational purposes only and does not constitute professional advice. Readers should exercise due diligence and seek independent professional guidance before making any decisions based on the information provided. ProAI and its affiliates shall not be held liable for any direct, indirect, incidental, consequential, or punitive damages arising from the use of or reliance on this case study.
