Spree Acquisition 1 today in a regulatory filing included an invesgtor presentation outlining its proposed combination with taxi fleet operator zTrip®.
At deal announcement in October, the target’s assumed equity value prior to the business combination was $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.
Founded in 2018, zTrip is a technology-based nationwide transportation company operating a fleet of 2,700 taxis. Read more.
