Getaround, a connected carsharing marketplace, today announced the company has completed its business combination with InterPrivate II Acquisition.
Getaround’s common stock and warrants begin trading on the NYSE today under the ticker symbols GETR and GETR.WS.
The SPAC in an 8-K filing said 24,325,000 shares were redeemed. The SPAC earlier this month had disclosed that the original pool of bonus shares available to non-redeeming public stockholders would be 7,420,779 in a no-redemption scenario, whereas in the contractual maximum redemption scenario, which assumes that 25,496,400 shares of Class A Stock are redeemed, 494,579 bonus shares would be allocated to non-redeeming stockholders.
As announced in May, the business combination was expected to result in at least $225 million in gross proceeds. At announcement, the deal had a pro forma equity value of $1.2 billion.
LionTree Advisors served as financial advisor, EarlyBirdCapital, Inc. acted as capital markets advisor and Greenberg Traurig served as lead legal advisor to InterPrivate II. White & Case also served as a legal advisor to InterPrivate II. UBS Securities acted as lead capital markets advisor and Orrick, Herrington & Sutcliffe served as legal advisor to Getaround. Additionally, Latham & Watkins served as legal counsel to UBS Securities. Read more.
