Why InterPrivate Acquisition (Aeva) Stock Is Higher Today
Shares of InterPrivate Acquisition (NYSE: IPV), the special-purpose acquisition company (SPAC) set to merge with Aeva, were trading higher on Monday after the company said that an investor has agreed to buy an additional $200 million worth of stock ahead of the merger.
As of noon EST, InterPrivate's shares were up about 4.5%.
InterPrivate said that Sylebra Capital, a Hong Kong-based technology investment firm that already owns a stake in InterPrivate, has agreed to invest an additional $200 million ahead of InterPrivate's merger with Israeli lidar maker Aeva. (Lidar is a sensor technology with applications in robotics and other fields. Of note to auto investors, most experts believe lidar will be essential for self-driving vehicles.)
Source Fool.com
