Galata Acquisition Corp. Announces Cancellation of Extraordinary General Meeting
11 July 2023 - 6:02AM
Business Wire
Galata Acquisition Corp. (“Galata”) announced today that its
extraordinary general meeting of shareholders scheduled on July 12,
2023 (the “Extraordinary General Meeting”) to vote on, among other
things, a proposal to extend the date by which Galata must
consummate a business combination has been cancelled. Galata
determined that the Extraordinary General Meeting is no longer
necessary due to the consummation of the previously announced
business combination between Galata and Marti Technologies Inc., a
Delaware corporation (“Marti”) (the “Business Combination”), on
July 10, 2023. Galata and Marti provided additional information
related to the consummation of the Business Combination in a
separate press release issued on July 10, 2023.
The combined company, Marti Technologies, Inc. (formerly known
as Galata Acquisition Corp., “New Marti”), a Cayman Islands
exempted company, will commence trading of its Class A Ordinary
Shares and warrants on the NYSE American Stock Exchange under the
ticker symbols “MRT” and “MRTW”, respectively, on July 11,
2023.
About Galata Acquisition Corp.
Galata Acquisition Corp. was 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. Galata’s Units, Class A ordinary shares and warrants
previously traded on the NYSE American Stock Exchange under the
ticker symbols “GLTA”, “GLTA” and “GLTA.WS”, respectively.
About Marti Technologies Inc.
Founded in 2018, Marti is Türkiye’s leading mobility app,
offering multiple transportation services to its riders. Marti has
launched a ride hailing service that matches riders with drivers
traveling in the same direction and operates a large fleet of
e-mopeds, e-bikes, and e-scooters. All of Marti’s offerings are
serviced by proprietary software systems and IoT infrastructure.
For more information visit www.marti.tech.
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 Galata 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.
Forward-looking statements are not historical facts but rather
are predictions, projections and other statements about future
events that are based on current expectations and assumptions and,
as a result, are subject to risks and uncertainties. Many factors
could cause actual future events to differ materially from the
forward-looking statements in this document, including but not
limited to: (i) the effect of the consummation of the Business
Combination on Marti’s business relationships, performance and
business generally, (ii) the outcome of any legal proceedings that
may be instituted against Marti, Galata, New Marti and/or their
respective directors or officers related to the Business
Combination, (iii) the potential inability of New Marti or a
successor thereto to maintain the listing of its securities on the
NYSE American Stock Exchange, (iv) volatility in the price of the
securities of New Marti or a successor thereto due to a variety of
factors, including changes in the competitive and highly regulated
industries in which Marti operates, variations in performance
across competitors, changes in laws and regulations affecting
Marti’s business, (v) changes in the capital structure of New
Marti, (vi) Marti’s ability to implement business plans, forecasts
and other expectations as well as its ability to identify and
realize additional business opportunities, (vii) the risk of
downturns in the highly competitive mobile transportation industry,
(xiii) the ability of Marti to continue to build the Marti brand
and consumers’ recognition, acceptance and adoption of the Marti
brand, (ix) risks associated with doing business in an emerging
market, (x) risks relating to Marti’s dependence on and use of
certain intellectual property and technology, (xi) the risk that
Marti may not be able to effectively manage its growth, including
its design, research, development and maintenance capabilities,
(xii) changes in applicable laws or regulations and (xiii) other
risks and uncertainties set forth in the registration statement and
definitive proxy statement/prospectus filed by Galata 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 Galata’s Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q and other documents filed by Galata
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, none of New Marti, Marti or Galata 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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Galata Acquisition Corp. info@galatacorp.net
www.galatacorp.net
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