Welcome to our dedicated page for GLTAU news (Ticker: GLTAU), a resource for investors and traders seeking the latest updates and insights on GLTAU stock.
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Marti Technologies Inc. reported robust Q3 2022 results with a 23% increase in net revenue to $8.9 million, attributed to fleet expansion and effective pricing strategies. However, adjusted EBITDA fell 38% to $1.5 million due to inflationary pressures on operating costs, which rose 59% to $4.8 million. The company's daily vehicle deployment averaged 36,176, while average daily rides per vehicle dipped 28%. Year-to-date results show a 39% revenue increase to $18.8 million. Marti aims to enhance its management team and continue growth amid economic challenges.
Galata Acquisition Corp. has successfully closed its initial public offering (IPO) of 12,500,000 units, priced at $10.00 each, leading to total gross proceeds of $125,000,000. The units are listed on the NYSE American under the ticker symbol 'GLTA.U' and comprise one Class A ordinary share and one-half of a redeemable warrant. The warrants will allow holders to purchase shares at a price of $11.50 each. B. Riley Securities, Inc. served as the sole book-running manager for this offering.
