Americas Technology Acquisition in an 8-K filing disclosed an amendement to its merger agreement with Rally, a transportation tech platform. There is now a $10 million minimum cash condition to close.
The SPAC has a Dec. 17 deadline to complete the deal.
As announced in June, the transaction values Rally at pro forma enterprise value of $208 million. If approved, the combined company will be renamed Rally Mobility and list on the NYSE under the symbol RLLY.
Rally stockholders may 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. Read more.
