Maquia Capital Acquisition Corporation (NasdaqCM:MAQC) agreed to acquire Immersed Inc. for approximately $150 million on August 9, 2023. As part of the deal, Immersed is raising bridge financing through convertible notes from investors including Intel Corp Chief Executive Pat Gelsinger, former football player Tim Tebow, and All Blue Capital.
The deal value does not include the proceeds of $160 million that Maquia Capital Acquisition raised in May 2021, the sources said, adding that Immersed is in talks to raise additional financing through a private investment in public equity (PIPE). After the deal closes, Immersed will be listed on the Nasdaq under the ticker "AIMR", the sources said.