Getaround, a global and digital carsharing marketplace, and InterPrivate II Acquisition announced plans to merge at a pro forma equity value of $1.2 billion. If approved, Getaround would list on the New York Stock Exchange under new ticker symbol GETR.
The business combination is expected to result in at least $225 million and up to $434 million in gross proceeds to the company, including a convertible note commitment of up to $175 million provided by affiliates of Mudrick Capital Management.
Active in more than 950 cities in eight countries, Getaround’s platform has 66,000 active cars and trucks, and 20 times more digitally connected cars than its closest competitor, according to a news release. Read more.
