COVA Acquisition Corp - Ordinary Shares - Class A

NASDAQ:COVA   3:58:06 PM EDT
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Debt Financing / Related, Mergers / Acquisitions

ECARX To Go Public In $3.82 Billion Merger With COVA Acquisition Corp

Published: 05/26/2022 11:43 GMT
COVA Acquisition Corp - Ordinary Shares - Class A (COVA) - Ecarx to Go Public in $3.82 Billion Merger With Cova Acquisition Corp.
, Accelerating Development of Next-generation Automotive Intelligence.
Cova Acquisition Corp - Transaction Values Ecarx at $3.82 Billion Pro Forma Equity Value, Or Pre-money Equity Value of $3.4 Billion.
Cova Acquisition - After Closing, Ecarx's Existing Shareholders Are Expected to Own About 89% of Pro Forma Combined Co, Assuming No Redemptions.
Cova Acquisition - Equity Value Includes $300 Million Cash Held in Trust by Co As Well As $45 Million in Additional Capital From Strategic Partners.