Yotta Acquisition Corporation
YOTAR
Other OTC0.10
USD
-0.08
- -
CIK
0001907730
ISIN
US98741Y1293
CUSIP
98741Y129
Return %
Stock
S&P500
1Y
9.65
18.02
3Y
-9.09
64.11
5Y
-9.09
72.15
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
- Hui Chen
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 1185 Avenue of the Americas New York City NY United States of America 10036
- IPO Date
- Jun 27, 2022
- CIK
- 0001907730
- Similar Companies
- Business
- Yotta Acquisition Corporation (YOTAR), a blank check company, focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Incorporated in 2021 and headquartered at 1185 Avenue of the Americas, Suite 301, New York, New York, the company is a subsidiary of Yotta Investment LLC and targets high technology, blockchain, software and hardware, ecommerce, social media, and other general business industries worldwide. It currently conducts no significant operations of its own, maintaining cash reserves in trust for deployment in a de-SPAC transaction. In August 2024, Yotta entered into a definitive merger agreement with DRIVEiT Financial Auto Group, Inc., an operator of electric vehicle superstores offering sales, financing, warranties, maintenance, parts, and comprehensive customer support for the EV ownership experience; the transaction values DRIVEiT equity at $100 million in Yotta common stock at $10 per share and anticipates DRIVEiT surviving as a wholly owned subsidiary under the renamed DriveiT Financial Auto Group, Inc., listed on Nasdaq. The merger, approved by both boards, remains pending stockholder approvals, SEC effectiveness of a Form S-4 registration statement, and customary closing conditions, with completion targeted for the first half of 2025 but extended to an October 22, 2025 deadline amid ongoing SEC filings and Nasdaq compliance efforts. Post-closing cash will support DRIVEiT's working capital, growth, and general corporate purposes in the automotive and electric vehicle sectors, primarily in the United States and Canada.