Brief: Zapp, An Electric Vehicle Company, To Become Publicly Traded Via Business Combination With Ciig Capital Partners Ii

Zapp Electric Vehicles

22/11/2022 12:35

Nov 22 (Reuters) - CIIG Capital Partners II Inc
 CIIG.O :
    * ZAPP, A HIGH PERFORMANCE TWO-WHEEL ELECTRIC VEHICLE
COMPANY, TO
BECOME PUBLICLY TRADED VIA BUSINESS COMBINATION WITH CIIG
CAPITAL PARTNERS II
    * CIIG CAPITAL PARTNERS II INC - COMBINED COMPANY WILL HAVE
AN
ESTIMATED FULLY-DILUTED POST-TRANSACTION ENTERPRISE VALUE OF
$573 MILLION
    * CIIG CAPITAL PARTNERS II INC - DEAL FOR ESTIMATED EQUITY
VALUE
OF $852 MILLION
    * CIIG CAPITAL PARTNERS II INC - CASH PROCEEDS RAISED WILL
CONSIST
OF CIIG II'S APPROXIMATELY $294 MILLION CASH IN TRUST, NET OF
REDEMPTIONS
    * CIIG CAPITAL PARTNERS II INC - BUSINESS COMBINATION HAS
BEEN
APPROVED BY BOARDS OF DIRECTORS OF BOTH ZAPP AND CIIG II

Source text for Eikon:  ID:nGNE81gqlW 
Further company coverage:  CIIG.O 
 ((Reuters.Briefs@thomsonreuters.com;))