NEW YORK and LONDON, April 28, 2023 (GLOBE NEWSWIRE) — CIIG Capital Partners II, Inc., a Delaware corporation and a former U.S. publicly-listed special purpose acquisition company, today announced the closing of its previously announced business combination with Zapp Electric Vehicles Limited, a private company limited by shares registered in England and Wales and a UK-based, high-performance two-wheel electric vehicle company. The combined company, Zapp Electric Vehicles Group Limited, a Cayman Islands exempted company, will commence trading of its ordinary shares and warrants on the Nasdaq Stock Market under the ticker symbols “ZAPP” and “ZAPPW”, respectively, on May 1, 2023. The Business Combination was approved by CIIG II stockholders at a special meeting held on April 14, 2023.
Zapp is a British company on a mission to redefine the electric two-wheeler segment. Zapp’s debut product, the i300, is an urban electric high-performance two-wheeler capable of traditional motorcycle levels of performance in a step-through format, combining ease of use with exhilaration and fun.
“Since the beginning, a public listing has always been important to us, and everyone’s effort on this aspect of our business has made that goal a reality,” said Swin Chatsuwan, Founder and Chief Executive Officer of Zapp. “We would like to thank the teams from CIIG II and SPAC Advisory Partners for their support and cooperation in making this possible. Our Nasdaq debut also reflects and honors the hard work and creative minds that have made Zapp one of the leading innovators in the electric two-wheeler market.”
Gavin Cuneo, CIIG II’s Co-Chief Executive Officer, commented, “We are excited to close our business combination with Zapp, which will help to scale the Company’s business plan. As the highly fragmented electric two-wheeler category continues growing rapidly, we believe Zapp’s exceptional team and distinctive product design will solidify the Company as a leader in electric two-wheeler mobility.”
Advisors
SPAC Advisory Partners, a division of Kingswood Capital Partners, served as exclusive financial advisor to Zapp. Latham & Watkins LLP served as legal advisor to Zapp. Weil Gotshal & Manges LLP and Orrick, Herrington & Sutcliffe LLP served as legal advisors to CIIG II. Gateway Group served as global investor relations and media relations advisor for North America. Influence Emobility served as global media relations advisor.
About CIIG II
CIIG Capital Partners II, Inc. initially was a Delaware special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CIIG II’s units, Class A common stock and warrants previously traded on the Nasdaq Stock Market under the ticker symbols “CIIGU,” “CIIG,” and “CIIGW” respectively.
About Zapp
Zapp Electric Vehicles Limited is an electric motorcycle company run by a team of experts from the mobility industry. The i300 is the first in a suite of high-performance electric two-wheelers expected to come to market from Zapp. Zapp plans to offer a high-quality direct-to-customer experience known as DSDTC (drop-ship-direct-to-customer). Customers ordering the i300 online will have their bikes conveniently delivered to their home by “Zappers,” who will provide at-home inspection, service and support throughout the vehicle ownership lifecycle.
