Aeva and InterPrivate Acquisition Corp. Announce Closing of Small business Mix Aeva to Trade on NYSE as “AEVA” Beginning On March 15

Aeva, Inc. (“Aeva” or the “Enterprise”), a leader in upcoming technology 4D LiDAR sensing and perception systems, announced right now that it has concluded its previously announced business enterprise mix with InterPrivate Acquisition Corp. (NYSE: IPV) (“InterPrivate”), a unique intent acquisition corporation. The transaction, which was permitted by InterPrivate’s stockholders in a unique meeting held on March 11, 2021, resulted in the combined organization remaining renamed “Aeva Systems, Inc.”, with its popular inventory and warrants to start investing on the New York Stock Exchange on March 15, 2021 below the ticker symbols “AEVA” and “AEVAW”, respectively.

“As we start out Aeva’s upcoming chapter as a general public organization, we are in a powerful placement to recognize our eyesight of scaling our market-initial 4D LiDAR technological innovation and provide notion to all units,” explained Soroush Salehian, Co-Founder and CEO of Aeva. “We have built major progress on our organization programs – forming foundational professional partnerships, accelerating our product or service roadmap and bolstering the administration crew with field leaders. This offer closure is a testament to the rely on and self-confidence that shareholders have placed in our leadership, technological know-how and small business design.”

“We established Aeva with the vision to carry a new wave of perception technological innovation to marketplace and advance the capabilities of automatic driving. This critical milestone marks the following stage of our advancement, as we look forward to accelerating our potential to bring our exceptional 4D LiDAR on chip technologies to not just automotive, but shopper, industrial and outside of,” extra Mina Rezk, Co-Founder, President, CTO and Chairman of Aeva.

“Aeva’s administration staff has shown impressive management during the enterprise mixture process. With the transaction proceeds, we imagine Aeva has the means to progress its eye-catching expansion alternatives and provide revolutionary 4D LiDAR technology to the mass sector,” stated Ahmed Fattouh, Chairman and CEO of InterPrivate.

The enterprise mix is anticipated to consequence in gross proceeds of more than $560 million to Aeva, like $320 million in PIPE proceeds and $243 million of InterPrivate money held in rely on. Transaction proceeds are anticipated to guidance the Organization via the planned start out of generation in 2024.

Morgan Stanley & Co. LLC served as monetary advisor and lead personal placement agent on the PIPE supplying, EarlyBirdCapital acted as capital marketplaces advisor and Greenberg Traurig, P.A. served as authorized advisor to InterPrivate. Credit history Suisse Securities (United states of america) LLC acted as funds markets advisor, and Latham & Watkins LLP served as authorized advisor to Aeva. Credit Suisse Securities (United states of america) LLC also served as placement agent on the PIPE supplying for InterPrivate. On top of that, Davis Polk & Wardwell LLP served as authorized counsel to Morgan Stanley & Co. LLC and Credit rating Suisse Securities (United states) LLC.

About Aeva

Established in 2017 by previous Apple engineers Soroush Salehian and Mina Rezk, and led by a multidisciplinary workforce of engineers and operators, Aeva is constructing the following-generation of sensing and perception for autonomous motor vehicles and over and above. Aeva is backed by Adage Capital, Porsche SE, Lux Money and Canaan Partners, amongst some others. For more facts, go to

About InterPrivate Acquisition Corp.

InterPrivate is a blank verify enterprise structured for the goal of effecting a merger, share exchange, asset acquisition, stock order, recapitalization, reorganization, or other comparable business enterprise combination with 1 or additional businesses or entities. InterPrivate is managed by affiliates of Ahmed M. Fattouh, Chairman and Chief Government Officer, and InterPrivate LLC, a private financial commitment company launched by Mr. Fattouh that is also the sponsor of InterPrivate II Acquisition Corp., InterPrivate III Financial Partners, Inc., and InterPrivate IV InfraTech Companions, Inc. InterPrivate is an rising progress organization as described in the Jumpstart Our Enterprise Startups Act of 2012.

Forward-Looking Statements

This press release incorporates sure ahead-searching statements within just the meaning of the federal securities legal guidelines. These forward-looking statements frequently are recognized by the terms “imagine,” “task,” “hope,” “anticipate,” “estimate,” “intend,” “system,” “future,” “opportunity,” “system,” “may well,” “must,” “will,” “would,” “will be,” “will proceed,” “will possible end result,” and related expressions. Ahead-seeking statements are predictions, projections and other statements about foreseeable future situations that are based mostly on present expectations and assumptions and, as a end result, are topic to hazards and uncertainties. Quite a few things could trigger real long term situations to differ materially from the ahead-wanting statements in this push launch, including, but not minimal to: (i) the ability to preserve the listing of Aeva’s securities on the New York Stock Exchange, (ii) the price of Aeva’s securities, which could be unstable because of to a assortment of things, together with adjustments in the aggressive and really controlled industries in which Aeva options to work, variations in effectiveness across competitors, modifications in legislation and laws impacting Aeva’s enterprise and alterations in the put together funds construction, (iii) the potential to apply enterprise strategies, forecasts, and other expectations and to determine and understand extra chances, (iv) the hazard of downturns and the possibility of immediate alter in the extremely aggressive sector in which Aeva operates, (v) the chance that Aeva and its current and future collaborators are not able to properly develop and commercialize Aeva’s products and solutions or products and services, or knowledge sizeable delays in undertaking so, (vi) the risk that Aeva may well never realize or maintain profitability (vii) the risk that Aeva will will need to increase extra capital to execute its business enterprise plan, which several not be accessible on suitable conditions or at all (viii) the possibility that Aeva encounters problems in managing its expansion and expanding operations, (ix) the possibility that 3rd-events suppliers and producers are not ready to entirely and well timed meet up with their obligations, (x) the chance of merchandise legal responsibility or regulatory lawsuits or proceedings relating to Aeva’s merchandise and products and services, (xi) the possibility that Aeva is unable to secure or secure its intellectual residence (xii) the effects of the ongoing coronavirus (COVID-19) pandemic or other infectious diseases, well being epidemics, pandemics and all-natural disasters on Aeva’s enterprise, (xiii) the skill to figure out the anticipated gains of the enterprise mixture, which may perhaps be impacted by, among other factors, levels of competition, the skill of Aeva to mature and deal with growth profitably, sustain relationships with customers and suppliers and retain its management and essential employees and (xiv) the hazard that the company mix disrupts current strategies and operations of Aeva as a consequence of the announcement and consummation of the enterprise mix. The foregoing checklist of things is not exhaustive. You should meticulously look at the foregoing things and the other pitfalls and uncertainties described in the “Chance Aspects” and “Cautionary Take note Regarding Forward-Searching Statements and Danger Factor Summary” sections of InterPrivate’s registration statement on Variety S-4 (No. 333-251106), as amended, to begin with filed with the SEC on December 3, 2020, and InterPrivate’s and Aeva’s other filings with the SEC. These filings detect and tackle other crucial dangers and uncertainties that could result in real events and success to vary materially from all those contained in the forward-hunting statements. Ahead-seeking statements talk only as of the date they are built. Visitors are cautioned not to put undue reliance on ahead-hunting statements, and Aeva assumes no obligation and does not intend to update or revise these forward-on the lookout statements, no matter if as a outcome of new information and facts, foreseeable future gatherings, or normally. Aeva does not give any assurance that it will attain its anticipations.

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Andrew Fung
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Michelle Chang
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