CIIG Capital Partners II (NASDAQ:CIIG) announced in an 8-K this afternoon that its shareholders approved its combination with EV motorcycle company Zapp at a special meeting held earlier today.
Present at the meeting were holders of 27,835,536 shares of common stock, representing approximately 77% of the voting power of the common stock.
Today’s 8-K did not disclose a closing timeline for the deal or redemption figures, but the combined company is expected to trade under the symbol “ZAPP” on the Nasdaq once the deal is completed.
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.
On March 1, it announced it would appoint David Sturgeon as CFO. Sturgeon previously served as EVP and CFO at Nasdaq-listed Central European Media Enterprises until its $1.1 billion sale to investment firm PPF Group in 2020.
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.
At the SPAC of Dawn Lately de-SPACs have been announcing corporate moves of a kind frequently in trios as was the case earlier this week when WeBull (NASDAQ:BULL), AST SpaceMobile (NASDAQ:ASTS) and Quantum-Si (NASDAQ:QSI) all announced major equity raises. This week, it is a trio of de-SPACs making reverse stock splits in unison, which is...
A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...