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.
