Abpro Holdings Merges with ACAB, Trades on Nasdaq

Abpro Holdings ( (ABP) ) just unveiled an announcement.

New Abpro completed a significant business combination with ACAB, involving a merger valued at approximately $500 million, resulting in the issuance of nearly 50 million shares of common stock. Following the merger, New Abpro began trading under the symbol ‘ABP’ on Nasdaq, with an additional $7 million raised from a private equity offering. The transaction involved various stock issuances to settle legal and advisory services, and New Abpro now aims to navigate potential risks while integrating ACAB’s business operations.

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