Infinity Cross Border Acquisition Corporation (Nasdaq: INXB) and Glori Energy Inc. announced that they have entered into a merger and share exchange agreement, in a transaction valued at $185 million. Following the completion of the transaction, the new enterprise will be called Glori Energy Inc. and is expected to be listed on the Nasdaq Capital Market under the ticker symbol GLRI. In connection with the transaction, Infinity’s sponsors and other investors agreed to purchase between $8.5 million and $25.0 million of shares of Infinity Acquisition’s common stock at $8.00 per share.
Bryant Park Capital initiated the introduction of Infinity Cross Border Acquisition Corporation to Glori Energy.
About Glori Energy
Glori Energy Inc. is a technology focused energy company that deploys its proprietary biotechnology to facilitate the secondary production of oil. Glori acquires, owns and operates mature oilfields into which it applies its AERO technology and additionally is deploying its technology in a range of different geographies and geologies for E&P clients.
Infinity Cross Border Acquisition Corporation is a blank check company formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation or contractual control arrangement with, purchasing all or substantially all of the assets of, or engaging in any other similar business combination with one or more operating businesses.
About Bryant Park Capital
Bryant Park Capital is an investment bank providing M&A and corporate finance advisory services to emerging growth and middle market public and private companies. BPC has deep expertise in the specialty lending and financial services industries. Our professionals have completed approximately 400 assignments representing an aggregate transaction value of over $80 billion.