May Mobility is Going Public in a $1.4B SPAC Deal

Self-driving taxi company May Mobility will merge with SPAC ACP Holdings Acquisition Corp. and become public. The deal could raise over $300 million at a $1.4 billion valuation, including $120 million PIPE and up to $217 million from a trust account.

• Valuation at $1.4 billion, raising over $300 million
• PIPE of $120 million and up to $217 million from SPAC trust account
• Revenue last year about $10 million with $93 million burn
• Over 550,000 paid rides and more than 1 million miles driven