PR Newswire·Apr 28, 2026, 8:00 AM ET

BLUE WATER ACQUISITION CORP. IV ANNOUNCES LETTER OF INTENT FOR A PROPOSED ACQUISITION OF MAHA CAPITAL AB SUBSIDIARIES, CREATING A PUBLIC PLATFORM WITH VENEZUELAN ENERGY EXPOSURE AND HIGH-GROWTH AI FINTECH BUSINESS

Blue Water Acquisition Corp. IV (NYSE: BWIV) entered a letter of intent to acquire substantially all subsidiaries of Maha Capital AB, including assets & contracts, to form a NYSE-listed entity headquartered in New York City.
The new company will combine Maha's energy assets, which include Venezuelan energy exposure potentially operating under OFAC General License 52, with its AI-driven financial technology subsidiaries.
Venezuelan energy assets hold the world's largest proven oil reserves in the Orinoco Belt, offering potential value unlock through capital & operational expertise despite recent production declines.
The fintech segment utilizes AI & machine learning to expand credit access for underserved small & medium enterprises in Latin America & Canada.
Following transaction closing, the company plans to separate its fintech operations into a standalone public entity within 30 to 90 days to allow independent valuation.
Joseph Hernandez, current Chairman & CEO of BWIV, will serve as Chairman & Interim CEO of the combined company, which will feature a five-member board with balanced representation.
The transaction references a Maha equity market capitalization of approximately $490 million based on a 14-day volume-weighted average share price of SEK 12.84 as of April 27, 2026.
Parties intend to negotiate definitive agreements & pursue closing within approximately 90 days, subject to due diligence, regulatory approvals, & shareholder votes.