Aeva car

Aeva and InterPrivate Acquisition Corporation have entered into an investment agreement to support the expected business combination between Aeva and InterPrivate. 

Under the terms of the agreement, Sylebra, a current holder of InterPrivate common stock, has committed to purchase an additional $200 million of InterPrivate common stock in connection with the expected closing of the business combination.

Sylebra has also entered into a one-year lock-up agreement on the majority of its investment, and will vote all eligible shares in favor of the transaction.  The investment significantly exceeds the minimum cash requirement contemplated by the business combination agreement, paving the way for the completion of the transaction in Q1 2021.