Innovative International Acquisition in a proxy filing called a Dec. 19 meeting for shareholders to vote on its proposed merger with Zoomcar, a global car sharing marketplace.
A vote was originally scheduled in October but delayed to “allow more time for the parties to consider and finalize financing and transaction terms,” the SPAC said at the time.
The deal had an implied pro forma enterprise value of approximately $456 million at announcement in October 2022.
India-based Zoomcar has over 3 million active users and over 25,000 vehicles registered for use.
Innovative International raised $200 million in an October 2021 IPO. Read more.
