Innovative International Acquisition’s registration statemenet on its proposed merger with Zoomcar has been declared effective by the SEC.
The SPAC called an Oct. 25 meeting at 11 a.m. Eastern for shareholders to vote on the deal.
The deal carried an implied pro forma enterprise value of approximately $456 million at announcement nearly a year ago.
India-based Zoomcar has over 3 million active users and over 25,000 vehicles registered for use on its global car sharing marketplace, according to a press release. Zoomcar has raised over $300 million in venture funding from firms like Sequoia Capital India.
Cohen & Company Capital Markets is exclusive financial advisor and exclusive capital markets advisor to Zoomcar; Ellenoff Grossman & Schole is acting as US legal advisor to Zoomcar. Lincoln International is financial advisor to the special committee of the SPAC’s board.
Jett Capital Advisors is financial advisor to the SPAC, and McDermott Will & Emery is acting as US legal advisor. Morris, Nichols, Arsht & Tunnell is acting as legal advisor to the SPAC’s special committee. DLA Piper is legal advisor to Cohen & Company Capital Markets. Read more.
