May Mobility Plans $1.4B SPAC Public Listing

May Mobility and ACP Holdings Acquisition Corp. have agreed to a business combination valuing the Ann Arbor autonomous-vehicle company at about $1.4 billion. The deal could bring up to $337 million in gross proceeds: as much as $217 million from the SPAC trust subject to shareholder redemptions, plus a $120 million PIPE co-anchored by an Atlas Credit Partners affiliate. Both boards approved the transaction. The combined company is expected to list on Nasdaq as MAY and close by the end of 2026, pending shareholder and regulatory approvals. Founded in 2017, May Mobility reports more than 550,000 commercial autonomous rides over 1.1 million miles in the U.S. and Japan. It operates in Atlanta with Lyft and in Eden Prairie and Grand Rapids, Minnesota, and aims to start commercial operations with Uber in Arlington, Texas, in late 2026 or early 2027. The company describes moving toward an Autonomy-as-a-Service model that licenses its technology while partners own the fleets. What is contested: None found in the record. Closing still depends on redemptions and approvals.