Zapata AI, an Industrial Generative AI Software Company, to Go Public Through Business Combination with Andretti Acquisition Corp.
Zapata AI is the Industrial Generative AI software company developing solutions to enterprises' hardest problems
Transaction values the company at an implied pre-money equity value of $200 million
Andretti Acquisition Corp. is familiar with Zapata AI through a commercial partnership with Andretti Autosport, in which Zapata AI's Orquestra® platform provides the Andretti INDYCAR® team with real-time analytics to inform race strategy and deliver performance edges
Business combination expected to provide up to approximately $84 million to the pro forma company's balance sheet, depending on the level of redemptions
Proceeds will be used to fuel continued innovation, drive enterprise
