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PRNewswire: 3 year-old FMCW LiDAR startup Aeva announces a reverse merging with InterPrivate Acquisition Corp. to be listed on NYSE at $2.1B valuation. This transaction is to provide up to $363M in gross proceeds, comprised of InterPrivate's $243M held in trust and a $120M fully committed common stock PIPE at $10.00 per share, including investments from Adage Capital and Porsche SE.
The combined company expected to have an estimated post-transaction equity value of approximately $2.1B and is expected to be listed on the NYSE under the ticker symbol AEVA following anticipated transaction close in Q1 2021.
- In 2019, Aeva announced a partnership with Audi's Autonomous Intelligent Driving entity. Aeva has also partnered with multiple other passenger car, trucking and mobility platforms to further adoption of ADAS and autonomous applications.
- Aeva is in a production partnership with ZF, one of the world's largest automotive Tier 1 manufacturers to top OEMs, to supply the first automotive grade 4D LiDAR from select ZF production plants. The partnership — Aeva's expertise in FMCW LiDAR technology combined with ZF's experience in industrialization of automotive grade sensors — represents a key commitment to accelerate mass production of safe and scalable 4D LiDAR technology.
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