Andretti Acquisition Corp. is set to merge with Zapata Computing, Inc., an industrial generative AI company. The combined entity will be listed on the Nasdaq Stock Market under the ticker symbols “ZPTA” and “ZPTAW”. Zapata AI, led by CEO Christopher Savoie, develops AI applications to solve complex problems for enterprise and government customers, including BASF, BBVA, BP, DARPA, Andretti Global, and Sumitomo Mitsui Trust Bank. As a public company, Zapata AI plans to continue innovating and expanding its customer base. Karen Snow, Global Head of Listings for Nasdaq, expressed excitement about welcoming Zapata AI to Nasdaq.
Zapata AI’s Transition to Nasdaq Trading
Zapata Computing, Inc., or Zapata AI, is set to become a publicly traded entity on the Nasdaq Stock Market. This development follows the completion of its proposed business merger with Andretti Acquisition Corp., a special purpose acquisition company. The common stock and public warrants of the merged entity will be listed under the ticker symbols “ZPTA” and “ZPTAW” respectively.
Christopher Savoie, CEO of Zapata AI, expressed his enthusiasm about the move, stating that Nasdaq’s reputation as a leading exchange for high-growth technology and AI companies makes it an ideal platform for Zapata AI. He believes that this transition will enhance the credibility of Zapata AI among its customer base, many of whom also trade on the Nasdaq exchange.
Zapata AI’s Industrial Generative AI Applications
Zapata AI is known for developing generative AI applications and providing related services to address complex, industrial-scale problems. Its clientele includes enterprise and government customers such as BASF, BBVA, BP, the Defense Advanced Research Projects Agency (DARPA), Andretti Global, and Sumitomo Mitsui Trust Bank. As a public company, Zapata AI aims to continue its innovative efforts, expand its enterprise customer base, and advance its growth strategy.
Karen Snow, Global Head of Listings for Nasdaq, welcomed Zapata AI to the Nasdaq family and expressed her anticipation for the company’s continued growth and success as a Nasdaq-listed entity.
Compliance with NYSE Rules and Transition to Nasdaq
In accordance with New York Stock Exchange (NYSE) rules, Andretti has informed the NYSE of its intention to stop trading its Class A ordinary shares and public warrants on the NYSE. This cessation will take effect 10 days after the notice date. Following the completion of the business merger, the common stock and public warrants of the combined company will commence trading on Nasdaq. Until the merger is finalized, Andretti’s Class A ordinary shares, public warrants, and units will continue to trade on the NYSE under the symbols “WNNR,” “WNNR WS,” and “WNNR.U,” respectively. Existing Andretti shareholders, unitholders, or warrantholders are not required to take any action regarding the expected change in ticker symbol or exchange listing.
About Zapata AI and Andretti Acquisition Corp.
Zapata AI is an industrial generative AI company transforming how enterprises tackle complex problems. Its suite of Generative AI software combines numerical and text-based solutions, enabling industrial-scale enterprises and government entities to leverage large language and numerical generative models more effectively and efficiently. The company, founded in 2017 and headquartered in Boston, Massachusetts, uses proprietary science and engineering techniques and the Orquestra® platform to accelerate the impact of Generative AI in the industry.
Andretti Acquisition Corp., on the other hand, is a special-purpose acquisition company formed to facilitate a business merger with one or more businesses or entities. The team includes racing legends Mario and Michael Andretti.
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