The combined entity will list on the Nasdaq under the ticker symbol MAY. This transition marks a significant shift for the company, which has built its reputation on an asset-light model. Unlike competitors that shoulder the heavy burden of fleet ownership, May Mobility offloads vehicle maintenance, depot operations, and ownership costs to partners. Since its founding in 2017, the firm has raised roughly $445 million and reported approximately $10 million in revenue for 2025.
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May Mobility Targets Public Markets via $1.4 Billion SPAC Merger
With a pro forma enterprise value of $1.4 billion, autonomous ride-hailing firm May Mobility is set to become the first pure-play company in its sector to trade on a U.S. exchange. The business combination with ACP Holdings aims to close by year-end, netting up to $337 million in gross proceeds.
CEO Edwin Olson emphasized that this strategy allows the company to scale through existing infrastructure rather than building from scratch. The firm has already logged over 550,000 commercial autonomous rides across locations including Atlanta, Eden Prairie, and Grand Rapids. Future growth plans include an upcoming partnership with Uber to launch operations in Arlington, Texas. ACP Holdings CEO Andrew Mallozzi noted that the move validates the company’s commercial traction and its ability to navigate diverse, complex driving environments.
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