Brief: Ztrip, The Largest Taxi Fleet Operator In The U.S. To Become Publicly Traded Via SPAC Merger

Spree Acquisition 1

31/10/2022 11:35

Oct 31 (Reuters) - Spree Acquisition Corp 1 Ltd
 SHAP.N :
    * ZTRIP®, THE LARGEST TAXI FLEET OPERATOR IN THE U.S., WITH
OPERATIONS IN 26 CITIES, MORE THAN 2,700 VEHICLES AND OVER 3,170
CONTRACTED DRIVERS ON ITS PLATFORM, TO BECOME PUBLICLY TRADED
VIA BUSINESS COMBINATION WITH SPREE ACQUISITION CORP.
    * SPREE ACQUISITION CORP 1 LTD - BUSINESS COMBINATION
AGREEMENT
THAT WOULD RESULT IN ZTRIP BECOMING PUBLICLY LISTED ON NYSE
    * SPREE ACQUISITION CORP 1 LTD - COMBINED COMPANY WILL BE
NAMED
WHC WORLDWIDE, INC. AND IS EXPECTED TO BE LISTED ON NYSE UNDER
TICKER "ZTRP"
    * SPREE ACQUISITION CORP 1 LTD - COMBINED COMPANY WILL BE
LED BY
ZTRIP'S FOUNDER AND CEO, BILL GEORGE
    * SPREE ACQUISITION CORP 1 LTD - BUSINESS COMBINATION
AGREEMENT
PROVIDES THAT ZTRIP'S ASSUMED EQUITY VALUE PRIOR TO BUSINESS
COMBINATION IS $251 MILLION
    * SPREE ACQUISITION CORP 1 LTD - SPREE IS REQUIRED TO
PROVIDE
GROSS PROCEEDS (AFTER TRANSACTION EXPENSES) OF AT LEAST $50
MILLION TO ZTRIP
    * SPREE ACQUISITION CORP 1 LTD - COMBINED COMPANY THAT WILL
RESULT
FROM TRANSACTION WILL BE ORGANIZED IN AN "UP-C" TAX STRUCTURE
    * SPREE ACQUISITION CORP 1 LTD - COMBINED COMPANY WILL
CONTINUE TO
DO BUSINESS AS ZTRIP

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