ACP Holdings Acquisition to Merge With May Mobility at $1.4 Billion Valuation

09:24 AM EDT, 09/16/2026 (MT Newswires) -- ACP Holdings Acquisition (ACGC) has entered a definitive business combination agreement with May Mobility, the companies said Wednesday. The transaction implies a pro-forma enterprise value of about $1.4 billion, the companies said. Under the agreement, the combined company is expected to receive up to $337 million in gross proceeds, including up to $217 million from ACP Holdings trust account and a fully committed $120 million PIPE, according to a joint statement. The boards of both companies have approved the deal, which is expected to close by the end of this year, subject to shareholder approval and other closing conditions, the companies said. Upon closing, the combined company is expected to operate as May Mobility and trade on Nasdaq under the ticker symbol "MAY." May Mobility generated about $10 million in revenue last year with a 27% gross margin, the companies said. Shares of ACP Holdings were less than 1% higher in recent Wednesday premarket activity.