MIAMI – May 23, 2022 – Global law firm Greenberg Traurig P.A. advised InterPrivate II Acquisition Corp. (NYSE: IPVA), a publicly traded special purpose acquisition company, on its agreement to acquire the global and digital carsharing marketplace Getaround in a transaction that would value the combined company at approximately $1.2 billion, assuming no redemptions from InterPrivate II’s $259 million trust.
The transaction, which is expected to close in the second half of 2022 subject to shareholder and regulatory approvals, is expected to provide San Francisco-based Getaround with at least $225 million and up to $434 million in gross proceeds, including a senior secured convertible note commitment of up to $175 million from Mudrick Capital Management.
Getaround is a pioneer in the global carsharing market, offering a fully digital experience for guests who rely on its cars for on-demand mobility 24/7 and hosts who share cars on the Getaround platform, and is active in over 950 cities worldwide.
The Greenberg Traurig team advising InterPrivate II was led by Shareholders Alan I. Annex, Miami-based co-chair of the Global Corporate Practice, and Kevin Friedmann, a member of the Corporate Practice based in Los Angeles and Chicago.
Other team members included:
- Kenneth A. Gerasimovich, Shareholder, Corporate, Long Island/New York
- Laurie L. Green, Shareholder, Corporate, Fort Lauderdale
- Michael D. Helsel, Shareholder, Corporate, New York
- Dario Ciapponi, Associate, Corporate, New York
- Divya Seth, Associate, Corporate, New York
- Yoojin Lee, Law Clerk/JD, Corporate New York