Renaissance Capital logo

Electric vehicle-focused SPAC Mobiv Acquisition files for a $100 million IPO

June 1, 2022
MOBVU

Mobiv Acquisition, a blank check company targeting the electric vehicle industry in Asia and Europe, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.

The company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Mobiv Acquisition would command a market value of $130 million.

Mobiv Acquisition is led by CEO and Director Peter Bilitsch, who previously served as a Director in Regional Equity Capital Markets at CIMB Investment Bank, and CFO Adron Leow, the Managing Director at ALLF Management Group. The company plans to focus on businesses in the EV and urban "smart" mobility industries, with a focus on Europe and Asia (excluding China, Hong Kong, and Taiwan).

The Newark, DE-based company was founded in 2022 and plans to list on the Nasdaq under the symbol MOBVU. EF Hutton is the sole bookrunner on the deal.