May Mobility to Go Public in ACP Holdings SPAC Deal Valuing Robotaxi Startup at $1.4 Billion

May Mobility has agreed to merge with ACP Holdings Acquisition Corp. in a SPAC transaction that values the autonomous ride-hail company at about $1.4 billion and could provide up to $337 million in gross proceeds. If completed, the Ann Arbor, Michigan-based company expects to list on Nasdaq under the ticker "MAY" and says it would become the first U.S. publicly listed pure-play autonomous ride-hail technology company.