Andretti Acquisition Corp., a publicly traded particular purpose acquisition company, has announced a proposed business combination with Zapata Computing, Inc., an AI software company. The U.S. Securities and Exchange Commission has declared the registration statement for this combination effective. A meeting to approve the business combination is scheduled for February 13, 2024.
The combined entity’s common stock and warrants will begin trading on the New York Stock Exchange under new symbols if approved. Zapata AI, founded in 2017, is known for developing solutions to solve enterprises’ most challenging problems using its suite of Generative AI software. This article is not financial advice.
Andretti Acquisition Corp. and Zapata AI Business Combination Approval Meeting
Andretti Acquisition Corp., a publicly traded special purpose acquisition company, has announced that its registration statement relating to the proposed business combination with Zapata Computing, Inc., also known as Zapata AI, has been declared effective by the U.S. Securities and Exchange Commission (SEC). The company has scheduled an Extraordinary General Meeting of Shareholders to approve the proposed business combination on February 13, 2024.
Zapata AI is an industrial generative AI software company that develops solutions and applications to solve complex enterprise problems. Suppose the proposals at the Special Meeting are approved. In that case, the business combination is expected to close shortly after that, and the combined entity’s common stock and warrants will commence trading on the New York Stock Exchange (NYSE) under the new symbols “ZPTA” and “ZPTA.WS”.
As of January 4, 2024, Andretti shareholders will receive the definitive proxy statement/prospectus in connection with Andretti’s solicitation of proxies for the Special Meeting. The Proxy Statement contains a notice and proxy card relating to the Special Meeting and can be accessed via the SEC’s website.
The company emphasizes that every shareholder’s vote counts, regardless of the number of shares held. Shareholders are requested to complete, sign, date, and return a proxy card or cast their vote by telephone or internet as soon as possible and no later than 5:00 p.m. New York City time on February 12, 2024.
Cohen & Company Capital Markets is serving as the exclusive financial advisor and lead capital markets advisor to Andretti Acquisition Corp. Legal counsel to Andretti Acquisition Corp. is being provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP, while Foley Hoag LLP is serving as legal counsel to Zapata.
Zapata AI is revolutionizing how enterprises solve their most complex problems with its powerful suite of Generative AI software. By combining numerical and text-based solutions, Zapata AI enables industrial-scale enterprises to leverage large language models and numerical generative models more efficiently. The company was founded in 2017 and is headquartered in Boston, Massachusetts.
Andretti Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect a business combination with one or more businesses or entities. Two key management team members are racing legends Mario and Michael Andretti.
