Announcement • Jun 03
Mobilewalla, Inc. agreed to acquire SPACSphere Acquisition Corp. (NasdaqGM:SSAC) in a reverse merger transaction for $250 million. Mobilewalla, Inc. agreed to acquire SPACSphere Acquisition Corp. (NasdaqGM:SSAC) in a reverse merger transaction for $250 million on June 1, 2026. As part of the consideration, there are 14,836,290 shares of Mobilewalla Common Stock are issued and outstanding; (ii) 19,525,420 shares of Series A Preferred Stock, of which 18,189,590 shares of Series A Preferred Stock are issued and outstanding; (iii) 2,655,329 shares of Series A-1 Preferred Stock, of which 2,655,329 shares of Series A-1 Preferred Stock are issued and outstanding and are owned of record by the Company Stockholders (iii) of the Company Disclosure Schedules in the amounts set forth opposite their respective names; (iv) 13,000,000 shares of Series B Preferred Stock, of which 11,762,490 shares of Series B Preferred Stock are issued and outstanding. Upon the closing of the proposed business combination, the combined company will be named Mobilewalla, Inc., and its common stock and public warrants are expected to be listed on a US national exchange subject to approval by the relevant exchange.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board, approval of offer by target shareholders and registration statement effectiveness(S-4 / F-4). The deal has been unanimously approved by the board and shall have been conditionally approved for listing on Nasdaq as of the Effective Time. The expected completion of the transaction is in the second half of 2026.
D. Boral Capital LLC acted as financial advisor and Amelia Zhang and Lee McIntyre of Norton Rose Fulbright US LLP acted as legal advisor for SPACSphere Acquisition Corp. Peter Campitiello of Lucosky Brookman LLP acted as legal advisor for Mobilewalla, Inc. The Blueshirt Group is serving as investor relations advisors to Mobilewalla. 
