COVA Acquisition Corp.
COVAW
NASDAQ Capital Market0.10
USD
+0.02
- -
CIK
0001837160
Return %
Stock
S&P500
1Y
-70.53
18.21
3Y
-85.71
64.38
5Y
-85.71
72.43
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
- Jun Hong Heng
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 530 Bush Street San Francisco CA United States of America
- IPO Date
- Mar 30, 2021
- CIK
- 0001837160
- Website
- covaacquisitioncorp.com
- Similar Companies
- Business
- COVA Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in 2020 and headquartered in San Francisco, California. The company primarily focuses on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses, targeting high-growth technology and tech-enabled sectors in Southeast Asia and the United States. COVA does not have significant standalone operations but serves as a vehicle to facilitate business combinations. Its strategic intent includes targeting consumer internet, ecommerce, software, and technology industries. A major recent development for COVA Acquisition Corp. is its completion of a business combination with ECARX Holdings, Inc., a global mobility technology company. This merger, finalized in December 2022, valued the combined company at approximately $3.82 billion and resulted in the combined entity retaining the ECARX name. The transaction included $300 million cash held in trust by COVA, augmented by $45 million in additional capital from strategic partners such as Geely Holding Group and Luminar, as well as convertible note holder Lotus Technology. Following this transaction, the merged company began trading on the NASDAQ under the ticker symbols "ECX" and "ECXWW." This business combination supports ECARX's acceleration of technology development, expansion of product rollouts, strategic acquisitions, and international growth, particularly in the automotive technology sector. ECARX Holdings, now the combined entity, operates globally with a strong position in intelligent automotive technology. The company serves OEM brands including Geely Auto Group, Lotus, Mercedes-Benz, Proton, and smart, along with Tier 1 automotive suppliers worldwide. ECARX delivers a broad portfolio of products and services encompassing intelligent automotive connectivity solutions, in-car infotainment platforms, smart cockpit technology, and vehicle operational systems. It leverages strategic partnerships for product co-development and commercialization focused on expanding its market presence in Europe, Southeast Asia, and other regions. Overall, COVA Acquisition Corp. functions as a SPAC that has transitioned through a landmark reverse merger with ECARX Holdings, effectively positioning the combined entity as a public leader in automotive intelligent technology with enhanced financial resources and an expanded geographic footprint. This description reflects current corporate structure, business activities, product focus, and recent transformative corporate actions through late 2025.