May Mobility signs $1.4bn deal to list through ACP Holdings
Stock photo
May Mobility has agreed to merge with ACP Holdings Acquisition Corp in a deal that gives the autonomous vehicle company an implied pro forma enterprise value of about $1.4bn. The filing puts the equity purchase price at $1.35bn.
Up to $337m in gross proceeds is expected, subject to redemptions. That includes a fully committed $120m private placement. The boards approved the agreement.
The combined company is expected to list on Nasdaq as MAY. Closing still requires shareholder approvals, listing approval and other conditions. The agreement sets May 26, 2027 as the outside date.
