InterPrivate II Acquisition Corp.
IPVA-WT
New York Stock Exchange0.15
USD
- -
- -
CIK
0001839608
Return %
Stock
S&P500
1Y
50.00
26.53
3Y
50.00
76.60
5Y
50.00
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- CIK
- 0001839608
- Similar Companies
- Business
- InterPrivate II Acquisition Corp. is a special purpose acquisition company (SPAC) primarily engaged in effecting mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or similar business combinations with one or more businesses. Founded in 2020 and headquartered in New York, New York, the company focuses on targeting private companies with positive operating cash flow or compelling unit economics, particularly in sectors including auto-tech and mobility, business services, consumer, retail, e-commerce, and industrial technology. InterPrivate II Acquisition Corp. does not have significant operations of its own and serves as a blank check company to facilitate access to public capital markets for its target businesses. The company's core activity revolves around raising capital through an initial public offering to facilitate business combinations with companies that meet its strategic investment criteria, typically businesses with enterprise values around $1 billion or more. It is part of the broader InterPrivate merchant bank platform, which also sponsors other SPACs and has a background in sponsor-led private equity transactions. A major recent development for InterPrivate II Acquisition Corp. is its acquisition by Getaround, Inc. in a reverse merger transaction completed in December 2022. Getaround is a digital peer-to-peer carsharing marketplace that offers a fully digital experience for consumers to share cars and trucks using proprietary cloud and in-car Connect® technology. Getaround's platform enables instant booking and unlocking of nearby cars, eliminating traditional car rental inconveniences. The combination marked a significant strategic expansion for InterPrivate II as it transitioned to support Getaround’s public market debut, with Getaround’s common stock and warrants beginning trading on the New York Stock Exchange under ticker symbols "GETR" and "GETR.WS" respectively as of December 9, 2022. This transaction also included financial partnerships, notably with Mudrick Capital Management, to bolster Getaround’s growth initiatives and market leadership in carsharing. InterPrivate II Acquisition Corp. was originally incorporated to capitalize on growth opportunities by partnering with companies in innovative technology-driven industries. It is led by Chairman and CEO Ahmed Fattouh and operates within the broader geographic ambit of the United States, focusing predominantly on scalable technology and mobility sectors. The company’s strategic execution through reverse mergers with technology firms like Getaround illustrates its business model of leveraging capital markets for rapid business expansion and sector leadership. In summary, InterPrivate II Acquisition Corp. operates as a blank check company specializing in strategic business combinations in technology-enabled service sectors, most notably achieved its latest transformation through its merger with Getaround, positioning the combined entity as a significant player in digital carsharing technology. This combination has enhanced its product and service offerings centered on the mobility and automotive technology marketplace, leveraging Getaround’s innovative carsharing platform and patented Connect® technology.