CIIG Capital Partners II (CIIG) Shareholders Approve Zapp Deal
CIIG Capital Partners II (NASDAQ:CIIG) announced in an 8-K this afternoon that its shareholders approved its combination with EV motorcycle company Zapp at a special meeting held earlier today.
Present at the meeting were holders of 27,835,536 shares of common stock, representing approximately 77% of the voting power of the common stock.
Today’s 8-K did not disclose a closing timeline for the deal or redemption figures, but the combined company is expected to trade under the symbol “ZAPP” on the Nasdaq once the deal is completed.
CIIG II initially announced the $573 million business combination with Zapp in November 2022. London-based Zapp aims to redefine the electric two-wheeler segment through its i300 bike.
On March 1, it announced it would appoint David Sturgeon as CFO. Sturgeon previously served as EVP and CFO at Nasdaq-listed Central European Media Enterprises until its $1.1 billion sale to investment firm PPF Group in 2020.
ADVISORS
- SPAC Advisory Partners, a division of Kingswood Capital Partners, is serving as exclusive financial advisor to Zapp Electric Vehicles.
- Latham & Watkins LLP is serving as legal advisor to Zapp Electric Vehicles.
- Weil Gotshal & Manges LLP, and Orrick, Herrington & Sutcliffe LLP are serving as legal advisors to CIIG Capital Partners II.
- Gateway Group is serving as Global Investor Relations Advisor and Media Relations for North America.
- Influence Mobility is serving as Global Media Relations for Zapp Electric Vehicles.