InterPrivate Investment Partners V, the fifth blank check company backed by InterPrivate targeting blockchain and digital assets, raised $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock, and one-third of one warrant to purchase a share, exercisable at $11.50.
InterPrivate Investment Partners V is led by CEO and Chairman Ahmed Fattouh, the founder and CEO of private investment firm InterPrivate. His previous SPACs include InterPrivate Acquisition, which completed its combination with autonomous navigation systems Aeva Technologies (Nasdaq: AEVA; +153% from $10 offer price on a split-adjusted basis) in 2021; InterPrivate II Acquisition, which completed its business combination with car-sharing startup Getaround (OTC: GETR; -100%) in 2021; and InterPrivate III Financial Partners and InterPrivate IV InfraTech Partners, which were both liquidated in 2023. The SPAC intends to target technology, blockchain and digital assets, and traditional cash-flow businesses.
The New York, NY-based company will trade on the Nasdaq under the symbol IPVVU. Cantor Fitzgerald acted as sole bookrunner on the deal.
