Mobiv Acquisition, a blank check company targeting the electric vehicle industry in Asia and Europe, raised $87 million by offering 8.7 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.
Mobiv Acquisition is led by CEO and Director Peter Bilitsch, who previously served as a Director in Regional Equity Capital Markets at CIMB Investment Bank, and CFO and Director Weng Kiat (Adron) Leow, the Managing Director at ALLF Management Group in Malaysia.
The Newark, DE-based SPAC plans to focus on businesses in the EV, urban "smart" mobility, and sustainable transportation industries, with a focus on Europe, Israel, and Asia (excluding China, Hong Kong, and Taiwan).
Mobiv Acquisition plans to list on the Nasdaq under the symbol MOBVU. EF Hutton acted as sole bookrunner on the deal.
