Alchemy Investments Acquisition (ALCY) said Monday it has signed a non-binding letter of intent to merge with a litigation finance firm Cartiga.
Cartiga uses data analytics to invest in legal claims, aiming to predict outcomes, manage risks, and boost returns for law firms, the special purpose acquisition company said.
After going public, the combined company aims to acquire and integrate other firms in the fragmented litigation finance sector to increase its market share and efficiency, it added.
Shares of the company were up about 4% in recent trading.
Price: 12.00, Change: +0.46, Percent Change: +3.99
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