Andretti Acquisition Corp. II

Michael Andretti and William Sandbrook serve as co-CEOs and co-investment decision-makers. Andretti chairs the Andretti racing organization and sits on the board of the predecessor SPAC's merger partner Innoviz Technologies. Sandbrook previously served as CEO and president of U.S. Concrete, a publicly traded industrial company, and brings deal-execution and public-company governance experience to the sponsor team.

The SPAC's primary sourcing advantage is Michael Andretti's network across the global motorsports and advanced mobility ecosystems. The Andretti brand has relationships with automotive OEMs, electrification startups, and performance-engineering firms in both the United States and Europe. The sponsor team also leverages William Sandbrook's industrial-operating network from his tenure leading a public materials company.

The SPAC is sponsored by Michael Andretti personally and entities affiliated with him, but the racing team Andretti Global is not a party to the SPAC's investment mandate. The vehicle uses the Andretti name and brand under a licensing arrangement. The racing organization's engineering and operational expertise informs the SPAC's ability to diligence mobility and performance targets, but the race team's balance sheet is separate from the SPAC's trust account.

No. The SPAC's mandate covers advanced mobility broadly — including electrification, autonomous systems, and industrial technology — as well as performance engineering. The predecessor SPAC merged with Innoviz Technologies, a developer of lidar sensors for autonomous vehicles, which sits outside traditional automotive manufacturing. Target sectors could include energy storage, charging infrastructure, industrial automation, and adjacent fields.

Andretti Acquisition Corp., the predecessor vehicle, completed its business combination with lidar company Innoviz Technologies in April 2021. The de-SPAC transaction valued Innoviz at approximately $1.4 billion at closing. Like many mobility-tech companies that went public via SPAC, Innoviz's share price has experienced volatility in the public markets since listing, reflecting broader sector headwinds rather than sponsor-specific execution issues.

The SPAC's S-1 filing indicates the sponsor will consider both U.S. and internationally domiciled targets. Given the Andretti brand's recognition across North America and Europe, and Michael Andretti's personal relationships with European automotive and motorsports companies, European targets are within scope. The prior SPAC's merger partner Innoviz was an Israel-based company.

Standard SPAC terms give the sponsor 18 to 24 months from IPO to complete a business combination, subject to extension by shareholder vote. As the vehicle has not yet priced its IPO as of mid-2024, the clock has not started. The predecessor SPAC completed its combination with Innoviz approximately three months after its February 2021 IPO, though deal timelines in the current market tend to be longer.