Getaround’s $1.2 Billion Merger with InterPrivate II Acquisition Corp.

Orrick advised Getaround on the deal while Greenberg Traurig represented InterPrivate II Acquisition Corp.

San Francisco-based carsharing marketplace Getaround announced its definitive agreement to become publicly traded via a merger with InterPrivate II Acquisition Corp. (NYSE:IPVA), a publicly-traded special purpose acquisition company. The transaction values the combined company at a pro forma equity value of $1.2 billion, assuming no redemptions from InterPrivate’s $259 million trust. 

The business combination is expected to result in at least $225 million and up to $434 million in gross proceeds to the company, including a convertible note commitment of up to $175 million provided by affiliates of Mudrick Capital Management.

Closing is expected in the second half of 2022, and the combined company’s shares will listed on the NYSE under the ticker “GETR.”

The Orrick team advising Getaround is led by Stephen Venuto (Picture), Matthew Gemello and Bill Hughes and includes Joseph Perkins, Brian Blood, Christine McCarthy, Niki Fang, Michael Ruiz, Ching-Yin Chen, Brett Cooper, Dolph Hellman, Jessica Kim, Steve Malvey, Ken Marx and Daniel Yost.

The Greenberg Traurig team 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.

 

Involved fees earner: Alan Annex – Greenberg Traurig LLP; Dario Ciapponi – Greenberg Traurig LLP; Kevin Friedmann – Greenberg Traurig LLP; Kenneth Gerasimovich – Greenberg Traurig LLP; Laurie Green – Greenberg Traurig LLP; Michael Helsel – Greenberg Traurig LLP; Divya Seth – Greenberg Traurig LLP; Brian Blood – Orrick Herrington & Sutcliffe LLP; Ching-Yin Chen – Orrick Herrington & Sutcliffe LLP; Brett Cooper – Orrick Herrington & Sutcliffe LLP; Niki Fang – Orrick Herrington & Sutcliffe LLP; Matthew Gemello – Orrick Herrington & Sutcliffe LLP; Dolph Hellman – Orrick Herrington & Sutcliffe LLP; Bill Hughes – Orrick Herrington & Sutcliffe LLP; Jessica Kim – Orrick Herrington & Sutcliffe LLP; Steven Malvey – Orrick Herrington & Sutcliffe LLP; Ken Marx – Orrick Herrington & Sutcliffe LLP; Christine McCarthy – Orrick Herrington & Sutcliffe LLP; Joseph Perkins – Orrick Herrington & Sutcliffe LLP; Michael Ruiz – Orrick Herrington & Sutcliffe LLP; Stephen Venuto – Orrick Herrington & Sutcliffe LLP; Daniel Yost – Orrick Herrington & Sutcliffe LLP;

Law Firms: Greenberg Traurig LLP; Orrick Herrington & Sutcliffe LLP;

Clients: Getaround, Inc.; InterPrivate II Acquisition Corp. ;

Martina Bellini

Author: Martina Bellini