Agility to invest in SWVL

Agility, would like to announce that it will invest in the newly announced business combination between Swvl Inc. (“Swvl”), a Dubai-based provider of transformative mass transit and shared mobility solutions, and Queen’s Gambit Growth Capital (“Queen’s Gambit”) (NASDAQ: GMBT), the first special purpose acquisition company entirely led by women.

Swvl and Queen’s Gambit have entered into a definitive agreement for a business combination that would result in Swvl becoming the first $1 bln+ unicorn from the Middle East to be listed on NASDAQ under the ticker symbol “SWVL”.

For this transaction, Agility will be subscribing for $20 million (KD 6 million) for 2 million shares and $ 10 million (KD 3 million) in a convertible note.

Note that Agility also has previously announced on 31st January 2021 an investment of approximately  $35 million (around KD 11 million) for a direct and an indirect minority stake in the initial public offering  (“IPO”) of the Special Purpose Acquisition Companies (SPAC) Queen’s Gambit Growth Capital (NASDAQ Symbol: GMBTU).

 

Best Regards,
Investor Relations Team