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Zapp Electric Vehicles, in partnership with CIIG Capital Partners II, has announced a business combination that will lead to its public listing on Nasdaq under the ticker symbol 'ZAPP'. The company is set to launch its first electric bike, the i300, featuring a lightweight carbon composite body and unique battery technology. The transaction aims for an enterprise value of $573 million, with $274 million in cash to support growth. Zapp focuses on high-performance electric two-wheelers and plans to utilize an innovative direct-to-customer model.
CIIG Capital Partners II, Inc. (NASDAQ: CIIGU) announced that starting November 5, 2021, investors can separately trade the shares of its Class A common stock and warrants from the units sold in its IPO on September 17, 2021. The Class A common stock will trade under the symbol “CIIG,” while the warrants will be under “CIIGW.” Units that are not separated will continue to trade under “CIIGU.” This move enhances liquidity for shareholders, allowing more flexibility in managing their investments.
On September 17, 2021, CIIG Capital Partners II, Inc. announced the closing of its upsized initial public offering of 28,750,000 units at $10.00 each, raising approximately $291.8 million. The offering included 3,750,000 units sold through an over-allotment option. CIIG II intends to target business combinations in technology, media, telecommunications, and sustainability sectors. The units began trading on Nasdaq under the symbol 'CIIGU' on September 15, 2021. The offering's proceeds will be held in a trust account as CIIG II seeks merger opportunities.
CIIG Capital Partners II announced the pricing of its upsized initial public offering of 25 million units at $10.00 each. The offering aims to facilitate a merger or similar business combination, focusing on technology, media, telecommunications, and sustainability sectors. The units will trade on Nasdaq under the symbol 'CIIGU,' with each consisting of one share of Class A common stock and a half warrant. The offering is set to close on September 17, 2021, and includes an option for underwriters to purchase an additional 3.75 million units.