Andretti Acquisition announced today that it has signed a non-binding letter of intent for a proposed business combination with a generative AI software company.
Andretti Acquisition expects a definitive agreement to be executed in the third quarter.
Two key members of the management team are racing legends Mario and Michael Andretti.
The SPAC raised $200 million in February 2022 with plans at that time to focus on opportunities that could “benefit from the iconic Andretti brand name in the broadly-defined automotive industry,” according to the original S-1 registration statement. Read more.
