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SPAC · Merger completed

Innovative International Acquisition Corp.

Business combination with Zoomcar, Inc.

Innovative International Acquisition Corp. is a blank-check company (SPAC) that raised $200M in its initial public offering on Oct 28, 2021, listing on Nasdaq Global Market. It completed its business combination with Zoomcar, Inc. on Dec 28, 2023; the combined company is Zoomcar Holdings, Inc. (ZCAR). Cantor led the IPO. Reed Smith advised the SPAC and Ellenoff Grossman & Schole advised the underwriters on the IPO.

Zoomcar, founded in 2013 and headquartered in Bengaluru, India, runs a car-sharing marketplace across India, Southeast Asia and the MENA region. It connects vehicle owners with guests who rent from more than 25,000 available cars.

Status
Merger completed
IPO date
Oct 28, 2021
IPO size
$200M
IPO exchange
Nasdaq Global Market
Target
Zoomcar, Inc.
Announced
Oct 19, 2022
Closed
Dec 28, 2023
Combined company
Zoomcar Holdings, Inc. (ZCAR)
IPO underwriters
Cantor
SPAC counsel (IPO)
Reed Smith and Maples and Calder
Underwriters' counsel (IPO)
Ellenoff Grossman & Schole

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