Deal Details

merger with Infinity Cross Border Acquisition Corporation

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Summary

About

Glori Energy, Inc. (“Glori Energy” or the “Company”) and Infinity Cross Border Acquisition Corporation (“Infinity”) (NASDAQ: INXB) recently completed a merger and share exchange agreement and a simultaneous private placement led by Infinity Group and Hicks Equity Partners LLC (“Hicks Equity Partners”). On April 15, 2014, shares of Glori Energy became publicly listed on the Nasdaq Capital Market under the ticker symbol GLRI with a total market capitalization of $236.7 million.

Glori Energy is a technology focused energy company that applies its proprietary AERO™ System to oil fields in order to increase the amount of oil that can be economically recovered. Two-thirds of all oil discovered in a typical reservoir is unrecoverable using conventional production technology. The Company’s microbial technology stimulates a reservoir’s native microorganisms to improve the recoverability of this trapped oil. Glori Energy provides its AERO™ System as a service to third party E&P companies, and also uses its technology to increase oil production in fields that it acquires and redevelops in the United States. Glori Energy is headquartered in Houston, Texas.

Infinity was a blank check company co-sponsored by Infinity Group and Hicks Equity Partners. Infinity Group is a cross-border platform and private equity fund which manages approximately $800 million. Hicks Equity Partners is the private equity arm for Hicks Holdings LLC, a holding company for the Thomas O. Hicks family’s assets. Infinity Group is headquartered in Tel-Aviv, Israel and Hicks Equity Partners is headquartered in Dallas, Texas.

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