Zapata Computing announced today that it has completed its business combination with Andretti Acquisition. Zapata is an AI software company developing solutions to solve enterprises’ industrial-scale problems.
Andretti shareholders approved the deal six weeks ago. The SPAC has sustained total redemptions of about 99% since its IPO more than two years ago.
Two key members of the SPAC’s management team are racing legends Mario and Michael Andretti.
Andretti Acquisition earlier this week said it entered into a non-redemption agreement with Sandia Investment Management under which Sandia agreed to rescind or reverse any redemption demand up to 300,000 shares.
Zapata Computing Holdings, as it is now known, will operate as Zapata AI. Stock and warrants begin trading April 1 on the Nasdaq under the ticker symbols ZPTA and ZPTAW. Zapata AI was founded in 2017 and is headquartered in Boston. Read more.
