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

Reuters

22 Nov 2022

Nov 22 (Reuters) - CIIG Capital Partners II Inc

:

* 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: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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