Galata Acquisition Corp. (the “Company”) announced today updates
to its proxy statement/prospectus filed with the Securities and
Exchange Commission (the “SEC”) on June 22, 2023 (the “Proxy
Statement/Prospectus”) in connection with the extraordinary general
meeting of the Company scheduled to be held on July 5, 2023 (the
“Meeting”) to, among other things, approve the proposed business
combination with Marti Technologies Inc., a Delaware corporation
(“Marti”).
The Proxy Statement/Prospectus understated the estimated Class A
ordinary share, par value $0.0001 per share (“Class A Ordinary
Share”), redemption price per share. Based on the fair value of
marketable securities held in the Company’s trust account as of
March 31, 2023, the estimated redemption value per share is $10.46
per Class A Ordinary Share, not $10.26 per Class A Ordinary Share,
as previously disclosed in the Proxy Statement/Prospectus.
In order to allow investors additional time to consider the
change in estimated redemption value, the Company is extending the
deadline for holders of Class A Ordinary Shares to complete
procedures to elect to redeem Class A Ordinary Shares (the
“Redemption Deadline”), which was initially scheduled for 5:00
p.m., New York City time, on June 30, 2023, to 5:00 p.m., New York
City time, on July 5, 2023. In connection with the extension of the
Redemption Deadline to July 5, 2023, the Company plans to open the
Meeting as scheduled on July 5, 2023, at 10:00 a.m., New York City
time, subject to a quorum as set out in the Company's amended and
restated articles of association, being present at the Meeting and
then, with the consent of the Meeting, immediately adjourn the
Meeting to July 6, 2023 at 10:00 a.m. New York City time at
https://www.cstproxy.com/galatacorp/2023.
About Galata Acquisition Corporation
Galata Acquisition Corp. is a blank check company organized for
the purpose of effecting a merger, share exchange, asset
acquisition, share purchase, or reorganization or engaging in any
other similar business combination with one or more businesses or
entities. On August 1, 2022, the Company announced execution of a
definitive business combination agreement with Marti, Turkey’s
leading mobility app. The Company anticipates closing the Marti
transaction in quarter three of 2023. The Company is led by CEO
Kemal Kaya.
Important Additional Information and Where to Find It
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS, ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY
OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION
WITH THE PROPOSED BUSINESS COMBINATION CAREFULLY AND IN THEIR
ENTIRETY, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE COMPANY.
Shareholders of the Company can obtain copies of the
registration statement, proxy statement/prospectus and other
documents filed with the SEC that will be incorporated by reference
therein, without charge, at the SEC’s website at www.sec.gov.
Documents filed with the SEC by the Company are also available free
of charge by accessing the Company’s website at
https://www.galatacorp.net, or, alternatively, by directing a
request by mail to the Company at 2001 S Street NW, Suite 320,
Washington, DC 20009.
Participants in the Solicitation
The Company and certain of their respective directors and
executive officers and other members of management and employees
may be deemed to be participants in the solicitation of proxies
with respect to the proposed business combination under the rules
of the SEC. Information about the Company’s directors and executive
officers is contained in the Company’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, as filed with the SEC
on March 31, 2023 pursuant to Section 13 of the Securities Exchange
Act of 1934, as amended, which is available free of charge at the
SEC’s website at www.sec.gov or by directing a request to the
Company at 2001 S Street NW, Washington, DC 20009. Additional
information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of proxies to the Company
shareholders in connection with the proposed business combination
are set forth in the proxy statement/prospectus and other relevant
materials filed with the SEC regarding the proposed business
combination. Investors should read the proxy statement/prospectus
carefully before making any voting or investment decisions. You may
obtain free copies of these documents from the sources indicated
above.
No Offer or Solicitation
This communication shall not constitute an offer to sell or the
solicitation of a proxy, consent, or authorization with respect to
or an offer to buy any securities in respect of the proposed
business combination, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the U.S. Securities Act of 1933, as
amended, or an exemption therefrom.
Cautionary Statement Regarding Forward-Looking
Information
This communication contains statements that are not based on
historical fact and are “forward-looking statements’’ within the
meaning of the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. For example, statements about the
expected timing of the completion of the proposed business
combination, the benefits of the proposed business combination, the
competitive environment, and the expected future performance and
market opportunities of the Company and Marti are forward-looking
statements. In some cases, you can identify forward looking
statements by terminology such as, or which contain the words
“will,” “aim,” “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “future,” “intend,” “may,”
“plan,” “possible,” “predict,” “project,” “seek,” “should,”
“target,” “will,” “would” and variations of these words or similar
expressions. Such forward-looking statements are subject to risks,
uncertainties and other factors. Actual results may differ
materially from the expectations expressed or implied in the
forward-looking statements as a result of known and unknown risks
and uncertainties.
These forward-looking statements are based on estimates and
assumptions that, while considered reasonable by the Company and
its management and Marti and its management, as the case may be,
are inherently uncertain and are subject to a number of risks and
assumptions. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond the Company and Marti’s control,
are difficult to predict, and could cause actual results to differ
materially from those expressed or forecasted in the
forward-looking statements. Known risks and uncertainties include
but are not limited to: (1) the occurrence of any event, change or
other circumstances that could give rise to the termination of the
business combination agreement; (2) the outcome of any legal
proceedings that may be instituted against the Company, Marti, the
combined company or others following the announcement of the
proposed business combination; (3) the inability to complete the
proposed business combination in a timely manner or at all
(including due to the failure to obtain approval of the
stockholders of the Company or to satisfy other conditions to
closing); (4) changes to the proposed structure of the proposed
business combination that may be required or appropriate as a
result of applicable laws or regulations; (5) the ability to meet
applicable stock exchange listing standards at or following the
consummation of the proposed business combination; (6) the risk
that the proposed business combination disrupts current plans and
operations of the Company as a result of the announcement and
consummation of the proposed business combination; (7) the ability
to recognize the anticipated benefits of the proposed business
combination, which may be affected by, among other things,
competition, the ability of the combined company to grow and manage
growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (8) costs
related to the proposed business combination, including the amount
of cash available following any redemptions by Company
shareholders; (9) changes in applicable laws or regulations; (10)
the possibility that Marti or the combined company may be adversely
affected by other economic, business and/or competitive factors;
(11) risks relating to the Company’s and Marti’s respective
operating histories and the mobile transportation industry; (12)
risks associated with doing business in an emerging market; (13)
risks relating to Marti’s dependence on and use of certain
intellectual property and technology; and (14) other risks and
uncertainties set forth in the registration statement filed by the
Company with the SEC in connection with the proposed business
combination. The foregoing list of important factors is not
exhaustive and you should carefully consider the other risks and
uncertainties described in the “Risk Factors” section of the
Company’s Annual Report on Form 10-K, Quarterly Reports on Form
10-Q and other documents filed by the Company from time to time
with the SEC.
Nothing herein should be regarded as a representation by any
person that the forward-looking statements set forth herein will be
achieved or that any of the contemplated results of such
forward-looking statements will be achieved. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. Except as may be required by applicable
law, neither the Company nor Marti undertakes any duty to update or
revise any forward-looking statements whether as a result of new
information, new events, future events or circumstances, or
otherwise.
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Media Contact Galata Acquisition Corp.
info@galatacorp.net www.galatacorp.net
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