CIIG Capital Partners II, Inc. (“CIIG II”), a Delaware corporation and a former U.S. publicly-listed special purpose acquisition company, has announced the closing of its previously announced business combination with Zapp Electric Vehicles Ltd., a private company limited by shares registered in England and Wales and a U.K.-based, high-performance two-wheel electric vehicle company. The combined company, Zapp Electric Vehicles Group Ltd. (“Pubco”), a Cayman Islands exempted company, will commence trading of its ordinary shares and warrants on the Nasdaq Stock Market under the ticker symbols “ZAPP” and “ZAPPW” respectively on May 1, 2023. The Business Combination was approved by CIIG II stockholders at a special meeting held on April 14, 2023.
Zapp is a British company on a mission to redefine the electric two-wheeler segment. Zapp’s debut product, the i300, is an urban electric high-performance two-wheeler capable of traditional motorcycle levels of performance in a step-through format, combining ease of use with exhilaration and fun.
“Since the beginning, a public listing has always been important to us, and everyone’s effort on this aspect of our business has made that goal a reality,” said Swin Chatsuwan, founder and CEO of Zapp. “We would like to thank the teams from CIIG II and SPAC Advisory Partners for their support and cooperation in making this possible. Our Nasdaq debut also reflects and honors the hard work and creative minds that have made Zapp one of the leading innovators in the electric two-wheeler market.”
Gavin Cuneo, CIIG II’s co-CEO, commented, “We are excited to close our business combination with Zapp, which will help to scale the company’s business plan. As the highly fragmented electric two-wheeler category continues growing rapidly, we believe Zapp’s exceptional team and distinctive product design will solidify the company as a leader in electric two-wheeler mobility.”
SPAC Advisory Partners, a division of Kingswood Capital Partners, served as exclusive financial advisor to Zapp. Latham & Watkins LLP served as legal advisor to Zapp. Weil Gotshal & Manges LLP and Orrick, Herrington & Sutcliffe LLP served as legal advisors to CIIG II. Gateway Group served as global investor relations and media relations advisor for North America. Influence Emobility served as global media relations advisor.