CIIG Capital Partners II (NASDAQ:CIIG) announced this afternoon that it has completed its business combination with EV motorcycle company Zapp.
The SPAC’s shareholders already approved of the deal at a meeting held on April 14, but did not provide further information on the closing of the transaction at that time.
Since the shareholder meeting, CIIG has been able secure a forward-purchase agreement for up to 10,000,000 shares. The entities ACM ARRT I and CFPA Holdings LLC-Zapp RS will be prepaid for their purchases from CIIG II’s trust at the redemption rate per share minus $2 million. These investors will then reimburse the combined company as it sells these shares on the open market in increments of at least $1 million.
CIIG II still has not yet released information on its redemptions in connection with its vote, but the transaction also did not include a minimum cash condition.
The combined company will now commence trading of its ordinary shares and warrants on the Nasdaq under the ticker symbols “ZAPP” and “ZAPPW”, respectively, on May 1.
CIIG II initially announced the $573 million business combination with Zapp in November 2022. London-based Zapp aims to redefine the electric two-wheeler segment through its i300 bike.
ADVISORS
- SPAC Advisory Partners, a division of Kingswood Capital Partners, is serving as exclusive financial advisor to Zapp Electric Vehicles.
- Latham & Watkins LLP is serving as legal advisor to Zapp Electric Vehicles.
- Weil Gotshal & Manges LLP, and Orrick, Herrington & Sutcliffe LLP are serving as legal advisors to CIIG Capital Partners II.
- Gateway Group is serving as Global Investor Relations Advisor and Media Relations for North America.
- Influence Mobility is serving as Global Media Relations for Zapp Electric Vehicles.
Cayson Acquisition Corp. (NASDAQ:CAPN) has entered into a definitive agreement to combine with boutique investment firm Mango Financial for $300 million in equity consideration. Hong Kong-based Mango provides a range of M&A and equity capital markets advisory services to clients considering listings in China and the US. The combined company is expected to trade on...
Trailblazer (NASDAQ:BLZRU) has filed for a $200 million SPAC to bring a first-time team to market with serial sponsor terms. The new SPAC is offering investors a 1/3 warrant in each unit and it is the first SPAC filed so far this month with 24 months on its initial transaction clock. All other July SPACs...
This week, we speak with Kyivstar CEO Oleksandr Komarov about the company’s $2.2 billion dollar combination with Cohen Circle Acquisition Corp. I (NASDAQ:CCIR). Few companies have been had to forge themselves in the flames recently quite like Ukraine’s leading telecom and digital services provider Kyivstar. Now, Kyivstar is not only telling that story but pitching it to...
At the SPAC of Dawn The market still has one full trading session before it adds Tuesday’s Core CPI reading and a variety of Fed comments to messaging it is already ingesting on US President Donald Trump’s ever-shifting tariff policy. SPACs are meanwhile continuing on with business as usual, with Cayson (NASDAQ:CAPN) announcing the third...
Terms Tracker for the Week Ending July 11, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. One more IPO priced this week bringing July’s total to 8. However, there are still three more weeks left in the month so that number...