Nemi merges with SPAC for Nasdaq listing at $400M pre-money
Nemi Corp. and BHAV Acquisition Corp. announced a merger on November 5, 2026, valuing Nemi at $400 million pre-money ahead of a planned Nasdaq listing. The deal is all-stock: 40 million shares at $10 each, covering Nemi’s equity, awards, and pre-closing financing. No earnout is included, and Nemi targets a $50 million PIPE at $10 per share, though this is a financing goal—not yet raised.
Key points
- Nemi merges with BHAV Acquisition Corp. for a $400M pre-money valuation, all-stock deal at $10/share
- Company targets $50M PIPE financing and $142.5M cash at closing for factory expansion and acquisitions
- Nemi’s AI tools cut design time by 3x and engineer costs by 1/3 in unaudited internal tests
Nemi operates 300,000+ sq ft of manufacturing space in India, producing precision parts, electronics, and EV components. Its Large Manufacturing Model (LMM) suite—Anvil, Orion, and Atlas—uses third-party AI tools for design, factory operations, and commercial workflows. The company claims 3x faster design work and 1/3 fewer engineers in unaudited tests, with one drone-powertrain program delivered in 4 months (vs. 16-month estimates) at 20% lower parts cost. Nemi’s $3.7M Operating ARR (provisional, unaudited) for Q3 2026 targets $20M at closing and $120M 12 months later, assuming $100M+ in funding and acquisitions. Closing is expected in Q1 2027, pending shareholder and regulatory approvals.
Nemi Plans Nasdaq Listing After SPAC Merger with BHAV Acquisition Corp
Unite.AI · 5 November 2026
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