Americas Technology Acquisition filed a preliminary proxy outlining terms of its proposed merger with transportation tech platform Rally.
Announced in June, the transaction values Rally at pro forma enterprise value of $208 million.
If approved, the combined entity will be renamed Rally Mobility and list on the NYSE under the symbol RLLY.
The aggregate value of shares to be issued to Rally stockholders at closing is expected to be approximately $165 million. Rally stockholders may also receive up to an additional 4.5 million shares if the company hits certain revenue and share price targets during the post-closing earnout period.
The SPAC recently received a merger deadline extension until Dec. 17. Read more.
