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The Latest SPAC News and Rumors: November 17, 2022
by Marlena Haddad on 2022-11-17 at 11:46am

 


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Getaround announces changes in executive team and Board of Directors, and Fisker’s new electric SUV starts rolling off the assembly line


Getaround Announces Executive Team and Board Finance Leadership

Getaround, the world’s first connected carsharing marketplace, announced changes in its senior executive team and proposed Board of Directors to be in place at the closing of the InterPrivate II Acquisition Corp. business combination.

Tom Alderman, Getaround’s Vice President of Finance, has succeeded Laura Onopchenko as Chief Financial Officer. Onopchenko will remain with Getaround through November 30 to ensure an orderly transition, and remains a personal advisor to CEO Sam Zaid. Additionally, Ravi Narula has been nominated for election by InterPrivate II Acquisition Corp.’s shareholders to the post-business combination Board of Directors and, if elected, would serve as Audit Committee Chair.

On May 11, 2022, Getaround announced its entry into a definitive business combination agreement with InterPrivate II Acquisition Corp. (NYSE: IPVA).

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Henrik Fisker’s Improbable Electric SUV Starts Rolling Off the Assembly Line

Fisker Inc.’s (NYSE:FSR) new electric SUV, dubbed the Ocean, zips from zero to 60 miles per hour in as little as 3.6 seconds and is expected to offer up to 350 miles (563 kilometers) of range, a smidge more than Tesla Inc.’s (NASDAQ:TSLA) Model Y.

Even after having racked up more than 63,000 reservations for the Ocean, investors are still treating Fisker the company as a wait-and-see stock, having been burned by Nikola (NASDAQ:NKLA), whose founder was convicted of fraud last month, and other post-SPAC auto startups like Lucid Group Inc. (NASDAQ:LCID) EV maker Rivian Automotive Inc. (NASDAQ:RIVN), which staged an initial public offering a year ago, also has been plagued by shortages that keep forcing its factory to stop and go for days at time.

A month after electric-truck startup Nikola Corp. made its stock market debut and briefly exceeded Ford Motor Co.’s valuation, Fisker agreed to combine with a SPAC sponsored by private equity giant Apollo Global Management Inc. in a deal that left the carmaker flush with roughly $1 billion in cash.

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