Tevva Motors Limited entered into an agreement to acquire Electrameccanica Vehicles Corp. in a reverse merger transaction
The transactions has been unanimously approved by both companies board of directors. The transaction is subject to the satisfaction or waiver of closing conditions, including, among others, required approvals of ElectraMeccanica?s and Tevva?s shareholders of the proposed transaction, the approval of the Supreme Court of British Columbia of the proposed transaction, and the conditional approval for the shares of the Resulting Issuer to be listed on of Nasdaq, required regulatory approvals. The proposed transaction is expected to close in the fourth quarter of 2023.
Greenhill & Co. Canada Ltd. acted as financial advisor to ElectraMeccanica and also provided a fairness opinion to the ElectraMeccanica Board in connection with the proposed transaction. Snell & Wilmer L.L.P., David Frost and Gerald Gaunt of McCarthy Tétrault LLP and Richie Clark, Howard White, Paul Taylor, Beth Silkin, Emma Bailey and Joanne Varia of Fox Williams LLP acted as legal counsel to ElectraMeccanica in connection with the proposed transaction. Lucosky Brookman LLP and Gowling WLG acted as legal counsel to Tevva in connection with the proposed transaction.