NEW YORK, March 11, 2021 /PRNewswire/ -- InterPrivate
Acquisition Corp. ("InterPrivate") (NYSE: IPV), today announced the
results for the seven proposals considered and voted upon by its
stockholders at its Special Meeting on March
11, 2021. InterPrivate reported that all of the proposals
related to the previously announced business combination agreement
between InterPrivate and Aeva Technologies, Inc. ("Aeva") were
approved by the InterPrivate stockholders at the special meeting. A
Form 8-K disclosing the full voting results has been filed with the
Securities and Exchange Commission.
Additionally, the deadline for electing redemptions has passed,
and 99.9% of funds will remain in InterPrivate's trust account as
of closing. As a result, Aeva expects to receive approximately
$563M in gross proceeds at the time
of the business combination, which includes $320 million in expected gross proceeds from the
private placements, which have been approved by the InterPrivate
stockholders and are expected to close concurrently with the
closing of the business combination.
The closing of the business combination is anticipated to take
place on or about March 12, 2021.
Following closing of the business combination, InterPrivate will be
renamed "Aeva Technologies, Inc." and its common stock and warrants
are expected to commence trading on the New York Stock Exchange on
or about March 15, 2021 under the
ticker symbols "AEVA" and "AEVAW", respectively.
About Aeva
Founded in 2017 by former Apple engineers
Soroush Salehian and Mina Rezk, and led by a multidisciplinary team
of engineers and operators, Aeva is building the next-generation of
sensing and perception for autonomous vehicles and beyond. Aeva is
backed by Adage Capital, Porsche SE, Lux Capital and Canaan
Partners, amongst others. For more information, visit
www.aeva.com.
About InterPrivate Acquisition Corp.
InterPrivate is a
blank check company organized for the purpose of effecting a
merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or other similar business
combination with one or more businesses or entities. InterPrivate
is controlled by affiliates of Ahmed M.
Fattouh, Chairman and Chief Executive Officer, and
InterPrivate LLC, a private investment firm founded by Mr. Fattouh
that is also the sponsor of InterPrivate II Acquisition Corp.,
InterPrivate III Financial Partners, Inc., and InterPrivate IV
InfraTech Partners, Inc. InterPrivate is an emerging growth
company as defined in the Jumpstart Our Business Startups Act of
2012.
Forward-Looking Statements
This press release contains
certain forward-looking statements within the meaning of the
federal securities laws. These forward-looking statements generally
are identified by the words "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," "will be,"
"will continue," "will likely result," and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including, but not limited to: (i) the timing of and
ability to close the business combination, including the
satisfaction of any applicable closing conditions, (ii) the timing
of and ability to list and maintain the listing of Aeva's
securities on the New York Stock Exchange, and (iii) the amount of
proceeds to be received from the private placements to be
consummated concurrently with the closing of the business
combination. The foregoing list of factors is not exhaustive. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the "Risk Factors" and "Cautionary
Note Regarding Forward-Looking Statements and Risk Factor Summary"
sections of InterPrivate's registration statement on Form S-4 (No.
333-251106), as amended, initially filed with the SEC on
December 3, 2020, and InterPrivate's
and Aeva's other filings with the SEC. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Forward-looking statements speak
only as of the date they are made. Readers are cautioned not to put
undue reliance on forward-looking statements, and neither
InterPrivate nor Aeva assumes any obligation nor does either intend
to update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise.
Press Contacts
Aeva
Investors:
Andrew Fung
investors@aeva.ai
Media:
Michelle Chang
press@aeva.ai
InterPrivate
Investors:
Charlotte Luer
cluer@interprivate.com
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SOURCE InterPrivate Acquisition Corp.