The lidar chip developer will secure $120m in financing from investors including existing backer Porsche as it agrees to merge with InterPrivate Acquisition Corp.
Aeva, the US-based autonomous driving technology developer backed by automotive manufacturer Porsche, agreed on Monday to a reverse merger with special purpose acquisition company InterPrivate Acquisition Corp at a $2.1bn post-merger valuation.
The transaction will include $243m held in trust by InterPrivate, which floated on the New York Stock Exchange in a $210m initial public offering in February this year, and $120m in financing from investors including Porsche and hedge fund Adage Capital.
Founded in 2017, Aeva has developed…
