FACTS: ALYI invested $1 million dollars into ZOOMCAR early in April 2021 at $2.50 per share. (This is public info from ALYI’s financial disclosures and clearly stated by ALYI)
Fast forward to October 13, 2022 Per Bloomberg: Indian Car-Sharing Platform Zoomcar to Go Public Via SPAC. Combined company is valued in transaction at $456 million. Innovative International SPAC raised $235 million in US IPO
Nice strategic investment by ALYI CEO.
“ALYI has substantially engaged with…Zoomcar, which is expected to IPO later this year…ALYI’s $1 million pre-IPO investment in Zoomcar could result in a substantial boost to ALYI’s balance sheet. Longer-term, ALYI hopes to integrate its EV transportation vision into Zoomcar’s business model…By 2024, we plan for ALYI to be an attractive acquisition or Nasdaq uplisting candidate.” (This is public info stated clearly by ALYI)
“Zoomcar’s car sharing market focus in developing economic regions dovetails with ALYI…and management believes a mutually beneficial long-term partnership opportunity exists for both companies.” (This is public info stated clearly by ALYI)
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