AleAnna Energy, LLC agreed to acquire Swiftmerge Acquisition Corp. in a reverse merger transaction for approximately $710 million.

AleAnna Energy, LLC agreed to acquire Swiftmerge Acquisition Corp. (NasdaqCM:IVCP) in a reverse merger transaction for approximately $710 million on June 4, 2024. The consideration consists of 65,098,476 shares of either or a combination of (a) Surviving PubCo Class A Common Stock or (b) Surviving PubCo Class C Common Stock.

AleAnna will be required to pay Swiftmerge a termination fee equal to $1,000,000 in cash if Swiftmerge validly terminates the Merger Agreement pursuant. The proposed Business Combination, which has been approved by both the Board of Directors of Swiftmerge and the Board of Directors of AleAnna, is subject to shareholder approval and other customary closing conditions. The transaction is expected to close during the third or fourth quarter of 2024.

David Chertok of Meitar Law Offices and Mark Selinger, Gary Emmanuel, and Grant J. Levine of Greenberg Traurig, LLP acted as legal advisor to Swiftmerge Acquisition Corp. Jennifer Wisinski and J. Brent Beckert of Haynes and Boone, LLP acted as legal advisor to AleAnna Energy, LLC.