May Mobility Plans Nasdaq Listing Through SPAC Deal Valuing AV Startup at $1.4 Billion

May Mobility has agreed to go public through a merger with ACP Holdings Acquisition Corp., a SPAC affiliated with Atlas Credit Partners, in a transaction that values the autonomous-vehicle company at a pro forma enterprise value of $1.4 billion. The deal could provide up to $337 million in gross proceeds and is expected to close by year-end, after which the Ann Arbor, Michigan-based company would trade on Nasdaq under the ticker "MAY," according to Axios.