CIIG Capital Partners II to Merge with Zapp Electric Vehicles

By Sabela Ojea

Shares of CIIG Capital Companions II Inc. have been briefly halted in premarket buying and selling Tuesday after the special-purpose acquisition firm stated it entered a enterprise mixture settlement with the U.Okay. firm Zapp Electrical Autos Ltd.
The blank-check firm stated that, upon closing the transaction, the mixed group Zapp Electrical Autos Group Ltd. would record on Nasdaq.
Zapp Electrical Autos is a high-performance two-wheel electrical car firm, CIIG stated.
“Combining with CIIG II and turning into a publicly listed firm will allow us to scale our enterprise, enhance manufacturing and fulfill demand for electrification within the largely underpenetrated electrical two-wheel market,” Zapp’s Chief Government Swin Chatsuwan stated.
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CIIG’s shares closed at $10.05 on Monday, in line with FactSet.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix