Galata Acquisition and Marti Technologies announced that the SPAC’s shareholders voted to approve the previously announced business combination.
The deal is expecgted to close today with shares and warrants trading on the NYSE American Stock Exchange starting tomorrow, under the symbols MRT and MRTW.
Neither the press release announcing the approved deal nor a subsequent 8-K filing disclosed redemptions, if any.
At announcement last August, the deal was valued at $532 million.
Istanbul, Turkey-based Marti operates a fleet of over 46,000 e-mopeds, e-bikes, and e-scooters, serviced by proprietary software systems and IoT infrastructure.
The parties in May eliminated a $50 million minimum cash condition to close. The amended terms also included removal of the lock-up provision for investors in the deal’s $35.5 million PIPE. Read more.
