WHC Worldwide, dba zTrip®, and Spree Acquisition 1 today announced a business combination agreement that would result in zTrip becoming publicly listed on the NYSE. The agreement provides that zTrip’s assumed equity value prior to the business combination is $251 million, subject to certain adjustments prior to closing.
The deal has a $50 million minimum cash condition. Spree raised $175 million in a December 2021 IPO.
If approved, zTrip is expected to list on the NYSE under the ticker ZTRP.
Founded in 2018, the target is a technology-based nationwide transportation company operating a fleet of 2,700 taxis. Read more.
