InterPrivate Investment Partners V, Inc. is registering 17,500,000 units for an initial public offering of $175,000,000. Each $10.00 unit consists of one Class A ordinary share and one-third of a redeemable warrant, with each whole warrant exercisable at $11.50 per share after a business combination.
The SPAC will place $175,000,000 (or $201,250,000 if the over-allotment is fully exercised) into a U.S.-based trust account and give public shareholders redemption rights at approximately the trust value per share upon a business combination or liquidation. The sponsor and underwriters will buy 575,000 private placement units for $5,750,000, while the sponsor previously purchased 5,031,250 founder Class B shares for $25,000 that are designed to represent 20% of ordinary shares at closing, creating potential dilution for public holders. The company has 24 months from closing, subject to possible shareholder-approved extensions, to complete its initial business combination.