AI TRANSPORTATION ACQUISITION Corp. Unit
AITRU
NASDAQ Capital Market11.24
USD
-0.90
- -
CIK
0001966734
ISIN
KYG014901386
Return %
Stock
S&P500
1Y
4.56
18.21
3Y
10.63
63.29
5Y
10.63
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Yongjin Chen
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 10 East 53rd Street New York City United States of America 10022
- IPO Date
- Nov 9, 2023
- CIK
- 0001966734
- Similar Companies
- Business
- AI Transportation Acquisition Corp AI Transportation Acquisition Corp is a blank check company, or special purpose acquisition company (SPAC), formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company focuses its search for a target business in the artificial intelligence (AI) transportation industry, specifically targeting logistics; new energy vehicles; smart parking; on-board chips; AI algorithms; automotive services; and other types of intelligent transportation. Incorporated as a Cayman Islands exempted company in 2022 and headquartered at 10 East 53rd Street, Suite 3001, New York, New York, the company currently conducts no significant operations and has generated no revenue. Its units, each consisting of one ordinary share and one right to receive one-eighth of an ordinary share upon completion of an initial business combination, trade on the Nasdaq Global Market under the ticker symbol AITRU. Led by Chief Executive Officer and Chairman Yongjin Chen, with key executives including Director of Finance Yun Wu and board members Ping Kuen Wong, Ka Cheong Leung, and Dick Wai Mak, the company operates without specified geographic limitations but maintains a primary emphasis on transportation-related opportunities worldwide. In June 2024, the company entered into a definitive business combination agreement valued at $170 million with American Metals LLC, a subsidiary of American Resources Corporation, under which American Metals would have become a wholly-owned subsidiary of a newly formed Delaware public entity through a DE-SPAC transaction involving merger subsidiaries; however, on November 27, 2024, AI Transportation Acquisition Corp terminated the agreement pursuant to its terms due to challenges in completion, and subsequently announced intentions to pursue alternative business combination opportunities in its target sectors. As of April 2025, the company faced Nasdaq delisting proceedings for non-payment of required listing fees under Nasdaq Listing Rule 5250(f), alongside expected SEC deregistration. The company raised $60 million in its upsized initial public offering in November 2023, priced at $10 per unit, sponsored by AI Transportation Corp based in the British Virgin Islands.
AI Transportation Acquisition Corp Announces the Separate Trading of its Ordinary Shares and Rights Commencing January 2, 2024
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AI Transportation Acquisition Corp Announces Closing of Initial Public Offering
AI Transportation Acquisition Corp Announces Pricing of $60,000,000 Initial Public Offering