# Nemi merges with SPAC for Nasdaq listing at $400M pre-money

Digest AI · Robotics & Physical AI · published 2026-11-05T19:06:03Z

Canonical: https://digestai.news/story/nemi-merges-with-spac-for-nasdaq-listing-at-400m-pre-money

## Summary

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.

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.

## 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

## Why it matters

The merger signals Nemi’s push into physical-AI manufacturing, combining proprietary factory data with AI-driven automation. If successful, it could scale its model across acquired manufacturers—but depends on closing the PIPE and securing acquisitions.

## Sources

1. [Nemi Plans Nasdaq Listing After SPAC Merger with BHAV Acquisition Corp](https://unite.ai/nemi-plans-nasdaq-listing-after-spac-merger-with-bhav-acquisition-corp) (Unite.AI, 2026-11-05)

## Cite

Digest AI, "Nemi merges with SPAC for Nasdaq listing at $400M pre-money", 5 November 2026, https://digestai.news/story/nemi-merges-with-spac-for-nasdaq-listing-at-400m-pre-money

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