Zapata AI to Join Nasdaq Following Merger with Andretti Acquisition, Eyeing Growth in Industrial AI
BOSTON and INDIANAPOLIS, March 19, 2024 -- Andretti Acquisition Corp., a publicly traded special purpose acquisition company, has announced that, upon the consummation of its previously announced proposed business combination with Zapata Computing, Inc. (Zapata AI), an industrial generative AI company, the combined entity is expected to list on the Nasdaq Stock Market.
The common stock and public warrants of the combined company will trade under the ticker symbols “ZPTA” and “ZPTAW,” respectively.
“Nasdaq is the most prestigious exchange in the world for high growth technology companies and burgeoning AI organizations,” said Christopher Savoie, CEO of Zapata AI. “As we embark on our next chapter as a public company, Nasdaq is the perfect fit for Zapata AI as it further validates our business model and adds an even greater level of credibility with our customer base – many of which also trade on the exchange.”
Zapata AI develops generative AI applications and provides accompanying services to solve complex industrial-scale problems faced by enterprise and government customers that have included BASF, BBVA, BP, the Defense Advanced Research Projects Agency (DARPA), Andretti Global and Sumitomo Mitsui Trust Bank. As a public company, Zapata AI will focus on fueling continued innovation, driving enterprise customer acquisition and advancing Zapata AI’s growth strategy.
Karen Snow, Global Head of Listings for Nasdaq, stated: “We are excited to welcome Zapata AI to the Nasdaq family and look forward to supporting their continued growth and success as a Nasdaq listed company.”
In compliance with New York Stock Exchange (NYSE) rules, Andretti has notified NYSE of its plans to cease trading its Class A ordinary shares and public warrants on the NYSE, which will become effective 10 days following the date of such notice. Upon conclusion of this notice period and following the consummation of the business combination, the common stock and public warrants of the combined company will begin trading on Nasdaq.
Andretti’s Class A ordinary shares, public warrants and units will continue to trade on the NYSE under the symbols “WNNR,” “WNNR WS” and “WNNR.U,” respectively, until the consummation of the business combination. No action is required by existing Andretti shareholders, unitholders or warrantholders with respect to the expected change in ticker symbol or exchange listing.
About Zapata AI
Zapata AI is an Industrial Generative AI company, revolutionizing how enterprises solve complex problems with its powerful suite of Generative AI software. By combining numerical and text-based solutions, Zapata AI empowers industrial-scale enterprises and government entities to leverage large language models and numerical generative models better, faster, and more efficiently—delivering solutions to drive growth, savings and insight. With proprietary science and engineering techniques and the Orquestra platform, Zapata AI is accelerating Generative AI’s impact in Industry. The Company was founded in 2017 and is headquartered in Boston, Massachusetts. On September 6, 2023, Zapata AI entered into a definitive business combination agreement with Andretti Acquisition Corp. (NYSE: WNNR). For more information on Zapata AI, please visit www.zapata.ai.
About Andretti Acquisition Corp.
Andretti Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a business combination with one or more businesses or entities. Two key members of the team are racing legends Mario and Michael Andretti. To learn more, visit https://www.andrettiacquisition.com.
Source: Zapata AI
