May Mobility Set to Become First U.S.-Listed Pure-Play Autonomous Ride-Hail Tech Company via Merger with ACP Holdings Acquisition Corp.
May Mobility is set to become the first publicly listed pure-play autonomous ride-hail technology company in the United States through a business combination with ACP Holdings Acquisition Corp. The deal implies an enterprise value of approximately $1.4 billion and includes a fully committed private investment in public equity (PIPE) worth $120 million from leading institutional investors. May Mobility has already delivered over 550,000 commercial autonomous rides across more than 1.1 million miles in the U.S., including three driver-out deployments. The company's asset-light Autonomy-as-a-Service model is designed to reduce time-to-market and capital intensity by using a multi-policy reasoning architecture that doesn't require millions of training data miles for new city deployment. The firm has strategic partnerships with Uber, Lyft, Grab, CaoCao, Toyota, NTT Mobility, and others. These alliances position May Mobility as the only autonomous vehicle company partnered with four major global ride-hailing platforms.
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Topics: Autonomous Vehicles Mergers and Acquisitions Public Listing Technology