Interprivate II Acquisition filed a preliminary registration statement outling its proposed merger with Getaround, a global and digital carsharing marketplace. The deal has a pro forma equity value of $1.2 billion.
If approved, Getaround would list on the NYSE under new ticker symbol GETR.
As announced in May, 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 has said its platform has 66,000 active cars and trucks, and 20 times more digitally connected cars than its closest competitor. Read more.
