May Mobility’s $1.4B SPAC Is EV, Not a Raise — $10M Revenue, $93M Burn
May Mobility and ACP Holdings (Nasdaq: ACGC) announced a business combination on September 16, 2026 at about $1.4 billion pro forma enterprise value. Up to $337 million of proceeds includes a $120 million PIPE and up to $217 million of trust cash subject to redemptions. 2025 revenue was about $10 million against about $93 million cash burn. Not closed; expected ticker MAY is not trading.