MENLO PARK, Calif.,
Nov. 30, 2021 /PRNewswire/
-- Altimeter Growth Corp. ("AGC" or "the company") (NASDAQ:
AGC) today announced AGC shareholders approved the previously
announced business combination with Grab, Southeast Asia's leading superapp, at an
extraordinary meeting of shareholders today.
Shareholder redemptions were effectively 0%, at 0.02%. Complete
official results of the vote and shareholder redemption will be
included in a Current Report on Form 8-K to be filed by AGC with
the Securities and Exchange Commission (the "SEC").
As previously disclosed, the transaction is expected to close
December 1, 2021, subject to the
satisfaction or waiver of customary closing
conditions. Following the close of the business combination,
Grab's Class A common stock is expected to begin trading on the
Nasdaq on December 2, 2021 under the
ticker symbol "GRAB."
About Grab
Grab is Southeast
Asia's leading superapp based on GMV in 2020 in each of food
deliveries, mobility and the e-wallets segment of financial
services, according to Euromonitor. Grab operates across the
deliveries, mobility and digital financial services sectors in over
400 cities in eight countries in the Southeast Asia region - Cambodia, Indonesia, Malaysia, Myanmar, the
Philippines, Singapore,
Thailand and Vietnam. Grab enables millions of people each
day to access its driver- and merchant-partners to order food or
groceries, send packages, hail a ride or taxi, pay for online
purchases or access services such as lending, insurance, wealth
management and telemedicine, all through a single "everyday
everything" app. Grab was founded in 2012 with the mission to drive
Southeast Asia forward by creating
economic empowerment for everyone, and since then, the Grab app has
been downloaded onto millions of mobile devices. Grab strives to
serve a double bottom line: to simultaneously deliver financial
performance for its shareholders and a positive social impact in
Southeast Asia.
About Altimeter
Altimeter Capital Management, LP is a
leading technology-focused investment firm built by founders for
founders with over $15 billion in
assets under management. Altimeter's mission is to help
visionary entrepreneurs build iconic companies, disrupt markets and
improve lives through all stages of growth. Altimeter manages
a variety of venture and public funds and serves as an expert
long-term partner to companies as they enter the public
markets.
FORWARD LOOKING STATEMENTS
This document includes
"forward-looking statements" within the meaning of the federal
securities laws with respect to the proposed transaction between
Grab Holdings Inc. ("Grab"), Grab Holdings Limited ("GHL") and AGC
and regarding Grab's future business expectations which involve
risks and uncertainties. All statements other than statements of
historical fact contained in this document, including, but not
limited to, statements as to future results of operations and
financial position, planned products and services, business
strategy and plans, objectives of management for future operations
of Grab, market size and growth opportunities, competitive
position, technological and market trends and the potential
benefits and expectations related to the terms and timing of the
proposed transactions, are forward-looking statements. Some of
these forward-looking statements can be identified by the use of
forward-looking words, including "anticipate," "expect,"
"suggests," "plan," "believe," "intend," "estimates," "targets,"
"projects," "should," "could," "would," "may," "will," "forecast"
or other similar expressions. All forward-looking statements are
based upon estimates and forecasts and reflect the views,
assumptions, expectations, and opinions of AGC and Grab, which are
all subject to change due to various factors including, without
limitation, changes in general economic conditions as a result of
COVID-19. Any such estimates, assumptions, expectations, forecasts,
views or opinions, whether or not identified in this document,
should be regarded as indicative, preliminary and for illustrative
purposes only and should not be relied upon as being necessarily
indicative of future results.
The forward-looking statements contained in this document are
subject to a number of factors, risks and uncertainties, some of
which are not currently known to Grab or AGC. You should carefully
consider the foregoing factors and the other risks and
uncertainties described in the "Risk Factors" section of GHL's
registration statement on Form F-4, the proxy statement/ prospectus
therein, AGC's Quarterly Report on Form 10-Q and other documents
filed by GHL or AGC from time to time with the U.S. Securities and
Exchange Commission.
These filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
In addition, there may be additional risks that neither AGC nor
Grab presently know, or that AGC or Grab currently believe are
immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. Forward-looking
statements reflect AGC's and Grab's expectations, plans,
projections or forecasts of future events and view. If any of the
risks materialize or AGC's or Grab's assumptions prove incorrect,
actual results could differ materially from the results implied by
these forward-looking statements.
Forward-looking statements speak only as of the date they are
made. AGC and Grab anticipate that subsequent events and
developments may cause their assessments to change. However, while
GHL, AGC and Grab may elect to update these forward-looking
statements at some point in the future, GHL, AGC and Grab
specifically disclaim any obligation to do so, except as required
by law. The inclusion of any statement in this document does not
constitute an admission by Grab nor AGC or any other person that
the events or circumstances described in such statement are
material. These forward-looking statements should not be relied
upon as representing AGC's or Grab's assessments as of any date
subsequent to the date of this document. Accordingly, undue
reliance should not be placed upon the forward-looking statements.
In addition, the analyses of Grab and AGC contained herein are not,
and do not purport to be, appraisals of the securities, assets or
business of Grab, AGC or any other entity.
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SOURCE Altimeter Growth Corp.