Cartica Acquisition is a SPAC incorporated in the Cayman Islands with no operations of its own. Its sole purpose is to merge with a private company and take it public. Cartica raised $230M in its January 2022 IPO, placing proceeds into a trust account while it searched for a target. Cartica's only active deal is a proposed business combination with Nidar, an India-based data center provider focused on AI and high-performance computing. Under the deal, Nidar would absorb Cartica in a two-step merger, with Cartica's public shareholders becoming Nidar shareholders. The deal has not yet closed. Cartica does not generate revenue; it earns interest on its trust while searching for a target, and its sponsor stands to profit through founder shares issued at a nominal cost that become valuable if a deal closes. Cartica's situation is precarious. Shareholders have redeemed heavily at each extension vote, drawing the trust down from ~$237M to ~$26M. Nasdaq suspended Cartica's securities in January 2025 after the company failed to close a deal within 36 months of its IPO, and the shares now trade on the OTC Pink market. Cartica has until October 7, 2025 to close the Nidar deal or another transaction, or it must liquidate and return remaining trust funds to shareholders. No outside financing has been secured to fund a transaction.