Swvl Holdings Corp. entered into a definitive agreement to acquire COMMUTE TECHNOLOGIES, S.A.P.I. de C.V.

Swvl Holdings Corp. (NasdaqGM:SWVL) entered into a definitive agreement to acquire COMMUTE TECHNOLOGIES, S.A.P.I. de C.V. on July 11, 2022. The acquisition will be funded with warrants to acquire an aggregate of up to 12,156,508 Class A Ordinary Shares (assuming maximum performance of the earn-out) at a de minimis exercise price, except a small number of Urbvan investors that do not qualify as “accredited investors” will receive cash consideration equal to 125,121 Class A Ordinary Shares.

The transaction is expected to close in Q3 2022.