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NEW YORK, March 11, 2021 /PRNewswire/ -- InterPrivate Acquisition Corp. ("InterPrivate") (NYSE: IPV), today announced the results for the seven proposals considered and voted upon by its stockholders at its Special Meeting on March 11, 2021. InterPrivate reported that all of the proposals related to the previously announced business combination agreement between InterPrivate and Aeva Technologies, Inc. ("Aeva") were approved by the InterPrivate stockholders at the special meeting. A Form 8-K disclosing the full voting results has been filed with the Securities and Exchange Commission.
Additionally, the deadline for electing redemptions has passed, and 99.9% of funds will remain in InterPrivate's trust account as of closing. As a result, Aeva expects to receive approximately $563M in gross proceeds at the time of the business combination, which includes $320 million in expected gross proceeds from the private placements, which have been approved by the InterPrivate stockholders and are expected to close concurrently with the closing of the business combination.