Aeva and InterPrivate Receive $200M Investment from Sylebra in Merger Support

Aeva

Lidar sensor company Aeva and InterPrivate Acquisition announced today that Sylebra Capital has entered into a $200 million PIPE agreement to support the expected business combination between Aeva and InterPrivate.

Sylebra has also entered into a one-year lock-up agreement on the majority of its investment, and will vote all eligible shares in favor of the transaction. The investment significantly exceeds the minimum cash requirement contemplated by the business combination agreement, the companies said, paving the way for completion of the deal in the first quarter.

The deal would give Aeva a market valuation of about $2B.

Founded in 2017 by former Apple engineers Soroush Salehian and Mina Rezk, Aeva is actively engaged with 30 of the top players in automated and autonomous driving across passenger, trucking and mobility. Read more

Total
0
Shares
Related Posts
Read More

FinServ II Prices Upsized $265M IPO

The SPAC plans to target businesses in the FinTech and financial services industries with an equity value of approximately $500 million to $2.0 billion, with particular emphasis on businesses that are using technology to disrupt traditional financial services, asset management and related services.
Northern Star Acquisition
Read More

Northern Star Stockholders Approve $1.6B BARK Merger

The combined company would have an enterprise value of approximately $1.6 billion, including debt. BARK expects to receive up to $454 million in cash at closing, assuming there were no redemptions by Northern Star’s stockholders. The amount includes an upsized fully-committed $200 million PIPE.
Read More

Pacifico and Caravelle Postpone Merger Closing

While Pacifico shareholders overwhelmingly approved the merger late last month, the SPAC noted that 99.56% of shares outstanding were redeemed. The parties in August agreed to eliminate a $60 million PIPE as well as the $4 million minimum cash closing condition on their deal.