India, Sept. 16 -- May Mobility, Inc., an autonomous vehicle technology company, and ACP Holdings Acquisition Corporation (ACGC) have announced on Wednesday that they have inked a merger deal.
The transaction values the combined company at a pro forma enterprise value of around $1.4 billion. The new company is expected to receive up to $337 million in gross proceeds, comprising up to $217 million from ACP Holdings' trust account and a fully committed private investment in public equity of $120 million with institutional and strategic investors.
Post transaction, the combined company is expected to operate as May Mobility, Inc. and list on the Nasdaq under the ticker symbol, MAY.
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