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May Mobility to go public via SPAC merger valued near $1.4 billion
The deal would value the combined company at about $1.4 billion and bring May Mobility onto the Nasdaq under the MAY ticker.
May Mobility is planning to become a publicly listed U.S. company through a SPAC merger with ACP Holdings Acquisition (NASDAQ: ACGC), in a transaction that values the combined business at roughly $1.4 billion, according to Yahoo Finance.
After the merger, the company is expected to operate as May Mobility and trade on the Nasdaq exchange under the ticker MAY.
The article frames the potential market for autonomous ride hailing as still early, citing a projection that the global robotaxi market could reach about $415 billion by 2035, with the U.S. representing roughly $48 billion of that total. It also says the U.S. fleet of commercial autonomous vehicles could grow from about 4,000 currently to around 35,000 by 2030.
May Mobility’s approach is described as an asset-light model, with costs outlined for elements including safety drivers, vehicle financing and maintenance, site operations like charging and depots, and remote supervisors plus software and field engineering support.
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