Getaround Announces Closing of Business Combination with InterPrivate II Acquisition Corp

Getaround (“Getaround” or “the Company”), the world's first connected carsharing marketplace, today announced the Company has completed its previously announced business combination (“the Business Combination”) with InterPrivate II Acquisition Corp. (NYSE: IPVA) (“InterPrivate II”).

In connection with the completion of the Business Combination, Getaround’s common stock and warrants will begin trading on the NYSE under the ticker symbols “GETR” and “GETR.WS,” respectively, on December 9, 2022. The Business Combination was approved at a Special Meeting of InterPrivate II shareholders on December 7, 2022, and was unanimously approved by InterPrivate II’s Board of Directors. Getaround’s Chief Executive Officer and Co-Founder, Sam Zaid, and the current management team of Getaround, will continue to lead the Company.

“Today is a special day for the Getaround team that has worked tirelessly to usher in an era of connected and digital carsharing. We are excited to enter into a new chapter as a publicly traded company. Getaround helped pioneer the carsharing category, and we believe consumer adoption is still in its early stages of a large addressable market with secular growth. With our unique and patented technology that enables consumers to instantly book and unlock nearby cars, we believe Getaround is poised to capitalize on an immense market opportunity,” said Zaid. “With the capital raised through this transaction and with exceptional partners in InterPrivate and Mudrick Capital Management, we will continue accelerating Getaround’s mission to lead the advancement of carsharing through our innovative, proprietary technology. ”

“We are pleased to be able to partner with Mudrick Capital Management, a leading global investment firm, to support Getaround’s public market debut. Getaround continues to position itself to capture market share in the burgeoning carsharing category, offering a fully digital and superior carsharing marketplace,” commented Ahmed Fattouh, Chairman & CEO of InterPrivate II, who is joining Getaround’s Board of Directors. “Utilizing its key fundamental technological advantage, Getaround Connect, Getaround is able to provide a seamless and frictionless carsharing experience to deliver enhanced value to its users. InterPrivate II believes Getaround’s listing on the NYSE is just the beginning of its journey, as the Company continues to execute on key growth initiatives and lead its peer group as the worldwide leader in asset-light digital carsharing.”