Mobile Infrastructure and Fifth Wall Acquisition III completed their business combination. The SPAC’s shareholders approved the deal Aug. 10.
The transaction valued the equity of Mobile at $15 per share versus its published 2022 Net Asset Value of $14.76 per share.
Although the SPAC lost more than 98% of its trust to redemptions on an extension vote in May, Fifth Wall also brought a $46 million PIPE to the deal.
Cincinnati-based Mobile Infrastructure owns a portfolio of parking facilities throughout 22 markets. Read more.
