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.


Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...
Crown PropTech (OTC:CPTKW) has entered into a definitive agreement to combine with rare earth mining firm Mkango Resources (TSX-V:MKA) at a pre-money equity value of $400 million. London-based Mkango is working to commercialize a chain of rare earth mining and refining facilities in Africa and Europe. The combined company is expected to trade on the...
At the SPAC of Dawn One of the biggest sources of uncertainty in the SPAC market in recent years has been regulatory changes, but new shifts could be in its favor. SEC Chairman Paul Atkins told CNBC yesterday that the commission would review the rules for SPACs after “rather controversial” changes to the rules passed...
McKinley Acquisition Corporation (NASDAQ:MKLYU) has filed for a $150 million SPAC to hunt for an innovative target company with an experienced financial team that has dabbled in SPACs before. The new SPAC is offering investors one right to a 1/10 share in each unit with no overfunding of the trust, but it could provide a...
At the SPAC of Dawn The rain of SPACs has continued with four expected to make their debuts during today’s trading sessions after pricing their IPOs overnight. The largest of these, EQV Ventures II (NASDAQ:EVACU), even managed an upsize, making it the largest SPAC IPO since Ares II (NYSE:AACT) pulled together $450 million in 2023....