GMBT - GMBT STOCK NEWS

Queen's Gambit Growth Capital (NASDAQ: GMBT) announced shareholder approval for its business combination with Swvl Inc. during the extraordinary general meeting held on March 30, 2022. The merger is set to finalize on March 31, 2022, leading to a rebranding of the combined entity as Swvl Holdings Corp. Trading for its Class A shares will commence on NASDAQ under the symbol 'SWVL' on April 1, 2022. This marks a significant milestone as Queen's Gambit is the first SPAC led by women, focused on sustainable development and innovative solutions in mass transit.

Queen's Gambit Growth Capital (NASDAQ: GMBT) announced a deadline for shareholders to withdraw redemption requests related to its business combination with Swvl Inc. (SWVL) and Pivotal Holdings Corp. The deadline for withdrawal is set for 3:00 PM ET on March 30, 2022, ahead of the expected transaction close on March 31, 2022. After the closing, Holdings' Class A ordinary shares and warrants will begin trading on Nasdaq on April 1, 2022. The merger aims to provide transformative transit solutions across various markets.

Swvl Inc. has appointed Kevin Foreman as its new Global Head of B2G offerings, enhancing its presence in North America. Foreman brings over 30 years of experience, previously spearheading Optibus' North American operations. His expertise is expected to significantly advance Swvl's SaaS and B2G initiatives, particularly following the acquisition of SaaS platforms Shotl and door2door. The company's rapid global growth positions it favorably in the mass transit sector, operating in over 100 cities across 20 countries.

Swvl has partnered with Moove to roll out electric buses across the MENAP region, enhancing their vehicle financing model. This initiative targets mobility entrepreneurs, offering 500 new buses initially, with a focus on making at least 60% of financed vehicles electric or hybrid. This partnership builds on Moove's $105 million Series A2 funding. The collaboration aims to increase bus route creation and maximize earnings for drivers while promoting sustainable transport solutions.

Swvl Inc. announced its acquisition of door2door, a European mobility platform with a 24% market share in Germany. The deal, expected to close in Q2 2022, aims to boost Swvl's presence in Europe, expanding its operations to over 20 countries. door2door has demonstrated impressive growth, with a 45% CAGR in customers from 2018-2021. The acquisition provides access to a $22.5 billion SaaS/TaaS market in Europe and complements Swvl's existing service offerings, including EV fleet management and multimodal solutions.

Swvl has announced the appointment of five senior executives to its global technology team, enhancing its mass transit solutions. The new members include Nami Mufti (Head of Security), Uriel Jaroslawski (Head of B2C Engineering), Andrii Dzynia (Head of B2B Engineering), Martijn Pieters (Principal Engineer), and Haroon Rasheed (Head of Site Reliability Engineering). With over 85 years of combined experience, their expertise will support Swvl's expansion across Latin America, Europe, and Asia, addressing underserved mobility challenges and driving growth as a SaaS and TaaS provider.

Swvl Inc. reported impressive results for Q4 and full-year 2021, achieving total ticket fares of $21.2 million in Q4, a 32% increase quarter-over-quarter and 183% year-over-year. Total annualized ticket fares reached $93.6 million in December 2021, exceeding estimates by 18%. The company completed acquisitions of controlling interests in Shotl and Viapool, expanding its reach in Europe and LatAm. Early Q1 2022 showed strong momentum, with ticket fares of $16.2 million, beating projections by 14%. The upcoming shareholder meeting on March 30, 2022, seeks approval for a merger with Queen's Gambit Growth Capital (GMBT).

Swvl Inc. has announced a $15 million investment in Argentina, aiming to enhance mass transit systems and create thousands of jobs over the next three years. This investment follows the acquisition of Viapool, a local mass transit platform, which serves over 80 corporate clients. Swvl plans to establish an engineering hub in Argentina to bolster its R&D capabilities and expand its B2C and B2B operations. The company aims to collaborate with government and local operators to enhance the country's mobility solutions, creating a significant economic opportunity.

Queen's Gambit Growth Capital and Swvl announce that the SEC has declared their F-4 registration statement effective, facilitating their business combination. This merger will lead to the listing of the combined company's shares and warrants on NASDAQ under symbols 'SWVL' and 'SWVLW' respectively. The transaction aims to accelerate Swvl's global expansion and has garnered strong momentum, evidenced by recent acquisitions and strategic partnerships. The shareholder meeting for approval is set for March 30, 2022, with closing of the merger expected around March 31, 2022.