InterPrivate Acquisition II scheduled a Dec. 7 meeting for shareholders to vote on the proposed merger with Getaround, a digital peer-to-peer carsharing marketplace.
InterPrivate II and Getaround agreed to set aside 9.33 million bonus shares that will be distributed to non-redeeming shareholders if the deal closes.
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.
