Advancing public listing via combination
May Mobility appears to be pursuing a public listing by combining with ACP Holdings, positioning the merged entity to operate as a pure‑play autonomous ride‑hail technology company.
Public filings and adviser disclosures show the transaction has been announced, is expected to list on Nasdaq under the ticker MAY, and could generate up to $337 million of gross proceeds with an implied pro forma enterprise value of about $1.4 billion, while still pending SEC review, shareholder approval and customary closing conditions.
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May Mobility said its business combination with ACP Holdings has been announced and framed the transaction as the path toward becoming a publicly listed pure‑play autonomous ride‑hail technology company.
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A filing‑summary source characterized the May Mobility‑ACP Holdings transaction as a proposed business combination still subject to SEC review, shareholder approval and other customary closing conditions.
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DLA Piper confirmed it advised ACP Holdings on the May Mobility combination and stated that the transaction is expected to generate up to $337 million of gross proceeds, subject to shareholder redemptions, with an implied pro forma enterprise value of about $1.4 billion.
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O'Melveny confirmed Cantor Fitzgerald's advisory and PIPE placement roles in the May Mobility and ACP Holdings business combination and said the combined company is expected to operate as May Mobility, Inc. and list on Nasdaq under ticker MAY after closing.