EVe Mobility Acquisition Corp *

EVe Mobility Acquisition Corp *

Nov 12, 2021 by sam.beattie

LETTER OF INTENT – 6/21/24 – LINK

  •  The SPAC entered into a non-binding letter of intent with a global leader in deep sea critical minerals mining.

EXTENSION – 6/14/23 – LINK

  • The SPAC approved the extension from June 17, 2024 to June 17, 2025.
    • 5,249,318 shares were redeemed.
    • No contribution will be made into the trust account.

SUBSEQUENT EVENT – 5/29/24 – LINK

  • The SPAC entered into a non-redemption agreement for every 300,000 Non-Redeemed Shares, 70,000 Class B ordinary shares of the Company (“Founder Shares”) held by the Insiders for the first nine months of the extension period and then 8,000 additional Founder Shares for each subsequent month needed during the extension period (or up to an aggregate of 94,000 Founder Shares for twelve months)

The Non-Redemption Agreements with the EVe Investors are with respect to an aggregate of 96,342 Class A Ordinary Shares. – LINK


SUBSEQUENT EVENT – 2/7/24 – LINK

  • The SPAC entered into a Purchase and Sponsor handover agreement with Bluefire Capital Limited.
    • The Sponsor Handover for EVe requires appointing a new board and management team, with all current members except the COO resigning upon completion.
    • Parties will file an information statement for shareholders as per SEC regulations.
    • The New Sponsor will indemnify existing and former directors/officers as per previous agreements, extend directors’ and officers’ liability insurance until December 17, 2024, and join the Letter Agreement.
    • Completion conditions include underwriters waiving certain fees and rights, the New Sponsor joining the Letter Agreement, and extending liability insurance.

EXTENSION – 6/14/23 – LINK

  • The SPAC approved the extension from June 17, 2023 to June 17, 2024.
    • 18,870,162 shares were redeemed at the meeting for $10.54 per share.
    • No contribution will be made into the trust account.

SUBSEQUENT EVENT – 6/7/23 – LINK

  • The SPAC entered into a non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of up to 4,000,000 shares
    • The Sponsor will transfer to the non-redeeming shareholders:
      • (1) for the Initial Extension, a number of Founder Shares equal to 21% of the number of Non-Redeemed Shares, or 840,000 Founder Shares, and
      • (2) for each Additional Monthly Extension, a number of Founder Shares equal to 3.5% of the number of Non-Redeemed Shares, or 140,000 Founder Shares for each Additional Monthly Extension.

SUBSEQUENT EVENT – 6/5/23 – LINK

  • The SPAC entered into a non-redemption agreement with several unaffiliated third parties in exchange for them agreeing not to redeem an aggregate of up to 4,000,000 shares
    • The Sponsor will transfer to the non-redeeming shareholders (1) for the Initial Extension, a number of Founder Shares equal to 21% of the number of Non-Redeemed Shares, and (2) for each Additional Monthly Extension, a number of Founder Shares equal to 3.5% of the number of Non-Redeemed Shares.

MANAGEMENT & BOARD


Executive Officers

Khairul Azmi Bin Ismaon, 41 [Appointed on 2/21/24]
Chief Executive Officer and Chairman

Mr. Ismaon is a highly skilled professional with a proven track record in asset and business turnaround, specializing in efficient and profitable operations across challenging regions. Holding a bachelor’s degree in business administration and a Diploma in Accountancy, Mr. Ismaon has secured cross-border Operations & Maintenance contracts, ventured into specialized O&M for mechanical equipment, and played a key role as Chief Strategy Officer at Ehsan Energy Ventures. As Corporate Planning Director at Aureus LNG GmbH, he contributed to early LNG infrastructure development. Founder of GRG Industries, he secured millions in term loans with a niche business model. Khairul Azmi’s career reflects strategic leadership, operational efficiency, and positive business outcomes.


Dr. Ulf Henning Richter, 44 [Appointed on 2/21/24]
Chief Financial Officer

Dr. Richter is a distinguished academic and entrepreneur, holds a Doctorate in Economic Sciences from HEC Lausanne, Switzerland, and an MBA from European Business School, Oestrich-Winkel, Germany. As the Founder and CEO of CARBON10B X, specializing in carbon removal solutions, and the head of Richterion Limited, a trade and investment firm, Dr. Richter is a recognized serial entrepreneur with a global presence. His notable career includes leadership roles as Chairman/Head of Office at Lukoil Asia Pacific Hong Kong Branch and as the Head of Asia at Red Lions Capital, focusing on exclusive pre-IPO opportunities. With academic appointments at esteemed institutions worldwide, including Hong Kong University of Science and Technology, City University of Hong Kong, Tongji University (Shanghai), University of Nottingham Ningbo China, Portland State University, and Pontificia Universidad Católica del Perú, Dr. Richter brings a wealth of experience. An award-winning entrepreneur, he has accumulated 20 years of cross-sectorial work experience, leaving a lasting impact across Asia, Europe, Africa, the Middle East, and Latin America.


Jesvin Kaur, 48 [Appointed as COO on 2/2/24, Appointed as President and Director on 2/21/24]
Chief Operating Officer, President, and Director

Ms. Kaur has over 25 years of experience in business advisory, strategic communication solutions, reputation management, and stakeholder engagement. She is the Director of Think Tree Advisory Sdn Bhd and the Senior Advisor to Optima Strategies Ltd, where her roles involved providing strategic business advice, communication strategy, reputation management and assisting clients to navigate through a diverse range of investment and commercial challenges within the ASEAN region. Ms. Kaur headed the Research and Advisory unit at KRA Group, a regional role covering Indonesia, Malaysia and Singapore. Prior to that, she was a senior investment analyst at Maybank Securities. She had also served at the Strategy and Risk Management Division of the Securities Commission of Malaysia for over four years where she was involved in the drafting and implementation of the Capital Market Masterplan. In the region, she has advised Government Ministries and Institutions, Government-linked Investment Companies, Multinational Companies, Private Equity Funds, and a host of other corporate and investment firms, on a range of issues including market access strategy, stakeholder relations, media engagement, strategic and financial communication. Ms. Kaur has a Bachelor of Business (Accounting and Finance) from the University of Technology (Sydney) and possesses a strong network within the media, corporate and business circles. She has also completed the Lee Kuan Yew School of Public Policy Executive Education on Public Policy: Design and Implementation for Success.


Maximilian A. Staedtler, 31 [Appointed on 10/2/23, Resigned on 2/21/24]
Chief Executive Officer and Chairman of the Board of Directors

Maximilian A. Staedtler serves as the Chief Executive Officer of EVe. Mr. Staedtler is a Partner and Managing Director at 10X Capital, a New York and Miami-based multi-strategy investment firm, where he leads a deal team of capital markets, M&A, private equity, and legal professionals. Mr. Staedtler’s experience includes deal sourcing, growth equity investing, M&A advisory, capital markets, credit analysis, and structuring across industries such as enterprise software, financial technology, healthcare, and diversified industrials. Prior to joining 10X Capital, Mr. Staedtler was an investment banker in the Goldman Sachs Group, Inc. (NYSE: GS) Technology, Media & Telecommunications (TMT) investment banking unit, based in San Francisco. He advised on transactions including direct listings, IPOs, follow-ons, SPACs, mergers & acquisitions, leveraged buyouts, and private placements of equity and debt securities. Closed deals include Coinbase Global Inc (NASDAQ: COIN), Lemonade Inc (NYSE: LMND), Marqeta Inc (NASDAQ: MQ), Upstart Holdings (NASDAQ: UPST), BMC Software Inc, Dell Technologies Inc (NYSE: Dell), Gigamon (acquired by affiliates of Elliott Management), Mark Forged (NYSE: MKFG), and others. Mr. Staedtler graduated summa cum laude from Florida International University’s College of Business.


Osman Ahmed, 37 [Appointed on 10/2/23, Resigned on 2/21/24]
President

Osman Ahmed serves as President of EVe. Mr. Ahmed is a Managing Director and Head of Private Equity at 10X Capital. He has over 12 years of principal investment, advisory, and operating experience. Prior to joining 10X Capital, Mr. Ahmed was the CEO of Founder SPAC, a $321M special purpose acquisition company focused on digital transformation. Founder SPAC successfully completed its merger with Rubicon Technologies (NYSE: RBT) in August 2022. Previously, Mr. Ahmed was an investor at KCK Group, a private markets investor. He also served as CFO of Beehive Industries, a KCK Group Portfolio company. Mr. Ahmed previously has held roles at Volition Capital, Scale Venture Partners, and Stifel Financial (NYSE: SF). Throughout his career, Mr. Ahmed has executed leveraged buyout, special situations, and growth equity investments in technology, business services, industrials, and healthcare. Prior closed deals include: Harvest Food Distributors, Sherwood Food Distributors, Hibernia Networks (acquired by GTT), RingCentral (NYSE: RNG), TraceLink, Al Fakher Tobacco, Better.com (NASDAQ: BETR), and others. Mr. Ahmed holds a B.S. in Computer Science from the University of Southern California and an M.B.A. from the University of Chicago Booth School of Business. He currently sits on the board of directors of Rubicon Technologies (NYSE: RBT) and serves as the company’s lead independent director.


Curtis Pierce, 28 [Appointed on 10/2/23, Resigned on 2/21/24]
Chief Financial Officer

Curtis Pierce serves as Chief Financial Officer of EVe. Mr. Pierce has experience sourcing, evaluating, structuring, and executing transactions and investments in technology, media, telecommunications, and diversified industries. Mr. Pierce is a Vice President at 10X Capital responsible for investment and capital markets activities across 10X Capital’s SPAC sponsorship and venture capital businesses. At 10X Capital, he led firm investments in Cerebras Systems, TRADE X, Maisonette, and Block Training. Prior to joining 10X Capital, Mr. Pierce was an investment banker at Wells Fargo Securities in the equity capital markets group covering technology, media, and telecommunications verticals as well as SPAC advisory. Mr. Pierce has extensive SPAC and capital markets experience having executed more than 20 SPAC transactions and related financings and over $40 billion in transaction value across public and private capital markets. Mr. Pierce graduated magna cum laude from the University of Utah’s David Eccles School of Business with an Honors Bachelor of Science in Finance. He also serves as the President and Chairman of the New York City Chapter of the University of Utah Alumni Association.


Scott Painter, 53 [Resigned as CEO on 10/2/23, Resigned on 2/21/24]
Chairman of the Board of Directors and Former Chief Executive Officer

Scott Painter has launched innovative business models that have helped transformed the automotive industry. Since September 2020, he has served as CEO and Chairman of NXCR, an automotive subscription platform, in which capacity he is in frequent contact with innovators in the mobility sector. In September 2016, he founded Fair, a used vehicle subscription company. Mr. Painter studied Political Science and Systems Engineering at the United States Military Academy at West Point between 1989 and 1991; he did not receive a degree and left before graduating. He then studied Economics at the University of California, Berkeley (UC Berkeley) between 1992 and 1993; he did not receive a degree and left UC Berkeley prior to graduation.


Georg Bauer, 70 [Resigned as President on 10/2/23, Resigned on 2/21/24]
Vice Chairman of the Board of Directors and Former President

Georg Bauer has over 40 years of experience in global financial services for leading automotive companies. Since September 2020, he has served as President and Vice Chairman of NXCR, an automotive subscription platform, in which capacity he is in frequent contact with innovators in the mobility sector. In September 2016, he co-founded Fair with Scott Painter. In 2013, Mr. Bauer joined Tesla to build the financial services business in markets across Europe and Asia, a position he held until September 2016. Mr. Bauer holds a degree in business and finance as Dipl. Betriebswirt (FH) from Fachhochschule Rosenheim. From 2011-2013 he taught “Global Entrepreneurship and Innovation” at Munich Business School’s MBA program.


Jim Nguyen, 52 [Resigned on 10/2/23]
Chief Operating Officer

Jim Nguyen has held a number of executive leadership roles across the automotive industry, including several public company executive leadership roles. Since September 2020, he has served as COO of NXCR, an automotive subscription platform, in which capacity he is in frequent contact with innovators in the mobility sector. Prior to joining NXCR, from December 2017 to March 2020, Mr. Nguyen served as the President and Chief Operating Officer of USHG Food Lab LLC, an incubator of food and beverage concepts in partnership with Walmart, Inc. From 2015 to November 2017, Jim served as President of ALG, Inc., a wholly-owned subsidiary of TrueCar, and the auto industry’s data and analytics authority on vehicle residual value projections. Prior to USHG, in 2008, Mr. Nguyen co-founded TrueCar, Inc. While at TrueCar, Jim held multiple executive leadership roles, serving as Chief Financial Officer, EVP of Business Development, and EVP of Affinity Partner Development and Marketing. Mr. Nguyen holds a BA in Economics-Accounting from Claremont McKenna College and an MBA from the Anderson Graduate School of Management at UCLA.


Kash Sheikh, 53 [Resigned on 10/2/23]
Chief Financial Officer

Kashif “Kash” Sheikh has a wide range of experience sourcing, evaluating, and executing transactions and strategic investments across various industries, especially automotive. Since September 2020, he has served as Chief Financial Officer of NXCR, an automotive subscription platform, in which capacity he is in frequent contact with innovators in the mobility sector. From January 2017 to December 2020, Mr. Sheikh was the Managing Partner of Optim Advisors, where he advised high net worth families and individuals on investment management, direct investing and other wealth management strategies. From 2009 to September 2016, Mr. Sheikh served as President and Chief Operating Officer of Andell Inc., a private investment company and family office where he oversaw all businesses, investments and family office services. Mr. Sheikh holds an MBA from the Anderson School at UCLA and an undergraduate degree from University of Illinois at Urbana-Champaign.



Board of Directors

Shabeeb Hamad Sultan AL Darmaki [Appointed on 2/21/24]
Independent Director

Mr. Al Darmaki has over 20 years of experience in private equity and sovereign wealth funds. He has experience in analysing and developing investment opportunities, launching funds and collaborating with portfolio companies to increase revenue. In his current role as the Head of Equities at the Abu Dhabi Fund for Development (the “ADFD”), a foreign aid agency and investment fund established by the government of Abu Dhabi, Mr. Al Darmaki leads projects for the origination, development, due diligence and implementation of commercially oriented private equity investment opportunities. Prior to the ADFD, Mr. Al Darmaki worked at the Abu Dhabi Investment Authority from 1997-2007, a sovereign wealth fund which makes investments on behalf of the Government of the Emirate of Abu Dhabi, where he latterly served as a senior analyst in the private equity department. Mr. Al Darmaki has a strong professional network throughout the UAE, Northern Africa and Central Asia, having provided his business expertise as a board member to a variety of companies throughout these regions. Currently, he serves as a board member for ALA in Farms, a leading UAE dairy company, Rebab, a Morocco-based company engaged in the exploration and development of metal mines, and Turkmen Investment Company, an investment company which facilitates international investment in strategic projects in Turkmenistan. Previously he was a board member of Sousse Nord, AL Rayan Investment Co and Alkhazna insurance UAE. Mr. Al Darmaki graduated from California State University San Bernardino in 1996 with a BA in business management and from Golden State University California in 1997 with a MSC in Finance.


Brian David Kitney [Appointed on 2/21/24]
Director

Mr. Kitney is a seasoned professional with over 30 years of expertise in the energy industry, having held pivotal roles in renowned Japanese companies, including Osaka Gas (Australia) Ltd, Mitsui & Co (Australia) Ltd, and JPMorgan Securities (Japan). Throughout his career, he has excelled in business development, marketing, and executive leadership. Mr. Kitney has recently immersed himself in future-energy domains, particularly focusing on LNG, hydrogen, carbon capture and storage (CCS), and renewables. His comprehensive knowledge extends to supporting developers and investors in originating and developing targeted investment opportunities. Engagements involve providing commercial advice for LNG terminals, hydrogen solutions, offshore wind assets, and oil and gas projects across Australia and Southeast Asia. Brian’s academic accomplishments include an MBA from Curtin University, a Graduate Diploma of Applied Finance from Kaplan, a Graduate Diploma in Diplomacy & International Trade from Monash University, a Diploma of Financial Markets from AFMA, a Master of Applied Japanese Linguistics from Monash University, and a Post Graduate Diploma in Japanese from Swinburne University. Additionally, he is a Graduate of the Australian Institute of Company Directors (GAIDC).


Nikita Jaiswal [Appointed on 2/21/24] [Resigned]
Independent Director

Ms. Jaiswal brings over 13 years of expertise in business development, strategic partnerships, and international sales across diverse global markets. Currently serving as Senior Director, APAC at LCR Capital Partners Singapore, she has successfully led the firm’s expansion into multiple Asian countries. Ms. Jaiswal’s versatile skill set encompasses international expansion, business development, thought leadership, strategic planning, and effective people management. With her own venture, enJai Pte Ltd, she offers international business development and strategy consulting services. Notable roles include Director of Commercial Operations and Partnerships at LCR Capital Partners and Head of Regional Office at Gas Natural Fenosa in Singapore and Madrid. Ms. Jaiswal holds a Bilingual MBA from IESE Business School, Barcelona, and a BBA in Finance and International Business from The George Washington University, Washington, DC.


Sue Callaway, 57 [Resigned on 2/21/24]
Director

Sue Callaway is a co-founder of Glovebox, where she has served since March 2019. Ms. Callaway also co-founded Fortune’s Most Powerful Women Summit and innovated marketing and content platforms for brands from Esquire and Jaguar to TrueCar and THE AUTO 100. Before co-founding Glovebox, she was EVP, Editorial Director at Edelman, where she oversaw content strategy and creation, and crisis and media training for global clients. Prior to joining Edelman, Ms. Callaway was the Senior Editor, Automotive, for Time Inc., where she oversaw and produced industry coverage — digital, video, and print — for Fortune, Sports Illustrated, Time, and Money, among others. She was a member of the board of directors at TrueCar and was also the founder and CEO of THE AUTO 100, a web-based content and analytics platform that tracks and ranks verticals in real-time.


Carla Bailo, 60 [Resigned on 2/21/24]
Director

Carla Bailo is currently the President and CEO of the Center for Automotive Research (CAR), a position she has held since November 2017, and is a leader in engineering and vehicle program management with 35 years of experience in the automotive industry. In addition to her role at CAR, Ms. Bailo was the vice president of automotive for SAE International, a global association of more than 138,000 engineers and related technical experts in the aerospace, automotive and commercial-vehicle industries from 2016 to 2018. From 2015 to 2017, she was most recently the assistant vice president for mobility research and business development at The Ohio State University. She also has 25 years of experience at Nissan North America, Inc., where her terminal role was as senior vice president of research and development. Ms. Bailo also spent ten years at General Motors. She has a MS degree in mechanical engineering from the University of Michigan and a BS degree in mechanical engineering from Kettering University.


Regina Shekerdemian, 35 [Appointed on 10/13/23, Resigned on 2/21/24]
Director

Mrs. Shekerdemian has served on our board of directors since October 2023. Mrs. Shekerdemian is Co-Founding Partner of The Venture Collective (TVC), a venture capital firm focused on investing in companies at the intersection between transformational tech and science, and deep, positive impact. She is also a Yale University Advisory Board Member. Prior to TVC, Mrs. Shekerdemian was a Director at BlackRock and Co-Chair of BlackRock Gives (the firm’s global philanthropic organization), with a near decade-long tenure across the New York, San Francisco, and London offices. There, she worked in multi-asset allocation and business development for some of the firm’s largest clients in the US, UK and Ireland. In her most recent role, she was Director of a team responsible for driving new client engagements and custom solutions across a diverse set of asset categories as well as maintaining a book of $132B in AUM and $110M in revenue generated per annum. While at the firm, she was a holder of both the Series 7 and Series 63 licenses. Mrs. Shekerdemian was selected as a Forbes 30 Under 30 honoree for being promoted to the youngest director globally in BlackRock’s history. Mrs. Shekerdemian holds a BA in English & History (minor in Anthropology) from Columbia University as well as a MBA from Oxford University.


James G. Ellis, 74 [Resigned on 10/6/23]
Director

From 2007 to June 2019, Mr. Ellis was the Dean of the Marshall School of Business at the University of Southern California. Mr. Ellis held a full time tenured appointment as Professor of Marketing from 1997, retiring in July 2021. Prior to joining USC, Mr. Ellis worked as President/CEO of Porsche Design, a high-end accessories company owned by Europe’s Porsche family. Additionally, he was CEO of Port O’Call Pasadena, a high-end home accessory chain, owner/partner in six other companies and started his career with Broadway Department Stores in Los Angeles. Mr. Ellis has served on the board of directors for Mercury General Corp. since 2014, and on the board of directors for J.G. Boswell Company since 2019. Since 2008, he has served as an independent director of certain clusters of American Funds which are advised by Capital Research and Management Company, a subsidiary of Capital Group Companies, Inc.