Galata Acquisition Corp. (the “Company”) and Marti Technologies
Inc. (“Marti”) announced today that at an extraordinary general
meeting (the “General Meeting”) held yesterday, July 6, 2023, the
Company’s shareholders voted to approve the previously announced
business combination between the Company and Marti (the “Business
Combination”) as well as other proposals related to the Business
Combination as described in the definitive proxy
statement/prospectus filed by the Company with the SEC on June 22,
2023 (the “Proxy Statement/Prospectus”). The Company plans to file
the results of the General Meeting on a Form 8-K with the SEC
today.
The Business Combination is expected to close on July 10, 2023,
subject to the satisfaction or waiver of certain other closing
conditions as described in the Proxy Statement/Prospectus.
Following the completion of the Business Combination, the newly
combined company will operate as Marti Technologies, Inc. and its
Class A Ordinary Shares and warrants are expected to trade on the
NYSE American Stock Exchange (“NYSE American”) under the symbols
“MRT” and “MRTW,” respectively. Assuming that the closing of the
Business Combination is completed on Monday, July 10, 2023, trading
will continue on NYSE American, switching from the symbol “GLTA” to
the new symbol, “MRT,” at the open of trading on July 11, 2023.
“Today is an exciting day for our whole team at Marti,” said
Alper Oktem, Founder and Chief Executive Officer of Marti.
“Securing significant funding and becoming a public company
supports our vision to build the first quintessential mobility
super app for Türkiye, and we are excited about the future.”
“We’re glad to participate in Marti becoming a public company,”
said Galata’s President, Daniel Freifeld. “Shareholder interest has
been high, which we believe positions us all well for closing the
transaction and a strong start.”
About Galata Acquisition Corp.
Galata Acquisition Corp. is a blank check company organized for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, or reorganization or engaging in any
other similar business combination with one or more businesses or
entities. On August 1, 2022, the Company announced the execution of
a definitive business combination agreement with Marti, Turkey’s
leading mobility app. The Company is led by President Daniel
Freifeld, founder and CIO of the global special situations hedge
fund Callaway Capital Management, LLC.
About Marti Technologies Inc.
Founded in 2018, Marti is Türkiye’s leading mobility app,
offering multiple transportation services to its riders. Marti has
launched a ride hailing service that matches riders with drivers
traveling in the same direction and operates a large fleet of
e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are
serviced by proprietary software systems and IoT infrastructure.
For more information visit www.marti.tech.
Important Additional Information and Where to Find It
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS, WHICH HAS BEEN MAILED TO SHAREHOLDERS OF THE
COMPANY AS OF THE RECORD DATE OF JUNE 12, 2023, AND ANY AMENDMENTS
OR SUPPLEMENTS THERETO AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED
WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION
CAREFULLY AND IN THEIR ENTIRETY, WHEN THEY BECOME AVAILABLE,
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
COMPANY.
Shareholders of the Company can obtain copies of the
registration statement, proxy statement/prospectus and other
documents filed with the SEC that will be incorporated by reference
therein, without charge, at the SEC’s website at www.sec.gov. Documents filed with the SEC by the
Company are also available free of charge by accessing the
Company’s website at https://www.galatacorp.net, or, alternatively, by
directing a request by mail to the Company at 2001 S Street NW,
Suite 320, Washington, DC 20009.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of a proxy, consent, or authorization with respect to
or an offer to buy any securities in respect of the proposed
business combination, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the U.S. Securities Act of 1933, as
amended, or an exemption therefrom.
Cautionary Statement Regarding Forward-Looking
Information
This communication contains statements that are not based on
historical fact and are "forward-looking statements" within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. For example, statements about the
expected timing of the completion of the proposed business
combination, the benefits of the proposed business combination, the
competitive environment, and the expected future performance and
market opportunities of the Company and Marti are forward-looking
statements. In some cases, you can identify forward looking
statements by terminology such as, or which contain the words
“will,” “aim,” “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “future,” “intend,” “may,”
“plan,” “possible,” “predict,” “project,” “seek,” “should,”
“target,” “will,” “would” and variations of these words or similar
expressions. Such forward-looking statements are subject to risks,
uncertainties and other factors. Actual results may differ
materially from the expectations expressed or implied in the
forward-looking statements as a result of known and unknown risks
and uncertainties.
These forward-looking statements are based on estimates and
assumptions that, while considered reasonable by the Company and
its management and Marti and its management, as the case may be,
are inherently uncertain and are subject to a number of risks and
assumptions. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond the Company and Marti’s control,
are difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the
forward-looking statements. Known risks and uncertainties include
but are not limited to: (1) the occurrence of any event, change or
other circumstances that could give rise to the termination of the
business combination agreement; (2) the outcome of any legal
proceedings that may be instituted against the Company, Marti, the
combined company or others following the announcement of the
proposed business combination; (3) the inability to complete the
proposed business combination in a timely manner or at all
(including due to the failure to satisfy certain conditions to
closing); (4) changes to the proposed structure of the proposed
business combination that may be required or appropriate as a
result of applicable laws or regulations; (5) the ability to meet
applicable stock exchange listing standards at or following the
consummation of the proposed business combination; (6) the risk
that the proposed business combination disrupts current plans and
operations of the Company as a result of the announcement and
consummation of the proposed business combination; (7) the ability
to recognize the anticipated benefits of the proposed business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (8) costs
related to the proposed business combination, including the amount
of cash available following the redemptions by Company
shareholders; (9) changes in applicable laws or regulations; (10)
the possibility that Marti or the combined company may be adversely
affected by other economic, business and/or competitive factors;
(11) risks relating to the Company’s and Marti’s respective
operating histories and the mobile transportation industry; (12)
risks associated with doing business in an emerging market; (13)
risks relating to Marti’s dependence on and use of certain
intellectual property and technology; and (14) other risks and
uncertainties set forth in the registration statement and
definitive proxy statement/prospectus filed by the Company with the
SEC in connection with the proposed business combination. The
foregoing list of important factors is not exhaustive and you
should carefully consider the other risks and uncertainties
described in the “Risk Factors” section of the Company’s Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q and other
documents filed by the Company from time to time with the SEC.
Nothing herein should be regarded as a representation by any
person that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Except as may be required by applicable
law, neither the Company nor Marti undertakes any duty to update or
revise any forward-looking statements whether as a result of new
information, new events, future events or circumstances, or
otherwise.
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Media Contact Galata Acquisition Corp. info@galatacorp.net www.galatacorp.net
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