WASHINGTON & ISTANBUL–(BUSINESS WIRE)–Galata Acquisition Corp., a Cayman Islands exempted company and a former U.S. publicly-listed special purpose acquisition company, today announced the closing of its previously announced business combination with Marti Technologies Inc., a Delaware corporation. The combined company, Marti Technologies, Inc. (formerly known as Galata Acquisition Corp., “Pubco”), a Cayman Islands exempted company, will commence trading of its Class A Ordinary Shares and warrants on the NYSE American Stock Exchange under the ticker symbols “MRT” and “MRTW”, respectively, on July 11, 2023. The Business Combination was approved by Galata’s shareholders at an extraordinary general meeting held on July 6, 2023.
Founded in 2018, Marti is Türkiye’s leading mobility app, offering multiple transportation services to its riders. Marti has launched a ride hailing service that matches riders with drivers traveling in the same direction and operates a large fleet of e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are serviced by proprietary software systems and IoT infrastructure. For more information visit www.marti.tech.
“We are excited to complete this merger and look forward to being listed on the NYSE American. It’s a testament to the hard work of our entire team, and a symbol of the strength and potential of Turkish entrepreneurship. We are grateful for the support of our investors, stakeholders and Galata in our journey and we have great confidence in the future of Marti,” said Alper Oktem, Founder and Chief Executive Officer of Marti.
“We’re thrilled to conclude this merger today with Marti, which will result in Marti trading on the NYSE American stock exchange. This was a team effort, and we’re appreciative of the commitment and professionalism of Marti’s management, as well as that of the many advisors who helped bring this deal to a successful close,” said Daniel Freifeld, Galata’s President and CIO of Callaway Capital Management, LLC.
Advisors
B. Riley Securities, Inc. served as capital markets advisor and placement agent to Galata. Latham & Watkins LLP served as legal advisor to Marti. Willkie Farr & Gallagher LLP served as legal advisor to Galata. White & Case LLP served as legal advisor to B. Riley Securities.
About Galata Acquisition Corp.
Galata Acquisition Corp. was a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, or reorganization or engaging in any other similar business combination with one or more businesses or entities. Galata’s Units, Class A ordinary shares and warrants previously traded on the NYSE American Stock Exchange under the ticker symbols “GLTA”, “GLTA” and “GLTA.WS”, respectively.
