May Mobility has agreed to merge with ACP Holdings Acquisition Corp. in a transaction valuing the combined company at roughly $1.4 billion. The Ann Arbor, Michigan-based autonomous ride-hailing technology developer expects to list on Nasdaq under the ticker MAY by year-end, with up to $337 million in gross proceeds comprising about $217 million from the SPAC trust, assuming no redemptions, and a fully committed $120 million PIPE. May Mobility said the completed merger would make it the first U.S. public company focused entirely on autonomous ride-hailing vehicles. The company uses an asset-light, partnership-first Autonomy-as-a-Service model, selling vehicles to fleet partners while retaining responsibility for remote supervision and software updates in return for fixed or per-trip licensing fees. May Mobility operates autonomous Toyota Siennas in three U.S. locations, including a Lyft partnership in Atlanta and services in Eden Prairie and Grand Rapids, Minnesota. It has also begun a trial deployment in Japan and plans commercial launches in Arlington, Texas, with Uber at the end of this year or in early 2027. The company generated about $10 million in 2025 revenue, reported roughly $93 million in cash burn, and has completed more than 550,000 paid autonomous rides covering more than 1 million miles.