Mobility tech SPAC Ascendant Mobility Acquisition I withdraws $300 million IPO

Ascendant Mobility Acquisition I, a blank check company targeting the electric vehicle, energy storage, and mobility tech space, withdrew its plans for an initial public offering on Friday. It had filed in May 2021 and most recently planned to raise $300 million by offering 30 million units at $10, with each unit containing one share of common stock and one-half of a warrant.

The company was set to be led by Co-CEO and Director Peter Bardenfleth-Hansen, whose previous roles include Chief Growth Officer of StreetScooter and Director of EMEA Business Development at Tesla (Nasdaq: TSLA), and Co-CEO and Director Jochen Rudat, who previously served as Chief Sales Officer of electric luxury brand Automobili Pininfarina and Director of Central Europe at Tesla.

The New York, NY-based company was founded in 2021 and had planned to list on the NYSE under the symbol AMOB.U. Goldman Sachs was set to be the sole bookrunner on the deal.