Title: Andretti Acquisition's SPAC Aims to Revolutionize the Automotive Industry

In a recent interview with NNN Business, Michael Andretti, co-CEO of Andretti Acquisition and head of Andretti Autosport racing team, shared insights into the company's plans for its Special Purpose Acquisition Company (SPAC). Andretti Acquisition has enlisted RBC as its underwriter, and is exploring opportunities in the automotive sector.

Despite rumors suggesting that Andretti Autosport might be interested in purchasing a Formula 1 team, investors should not expect any direct investments in F1. Instead, the SPAC aims to bring on other investors through a private investment in public equity (PIPE) transaction. 'There are many emerging and established companies that could benefit from the Andretti brand,' said Matt Brown, chief financial officer of Andretti Acquisition.

The company is looking to complete a deal valued between $1 billion and $2 billion, with a focus on deals throughout the automotive landscape, including electric vehicles and autonomous cars. This strategic move aims to capitalize on the growing demand for sustainable mobility solutions and cutting-edge technologies in the industry.

Andretti Acquisition's ambitions are fueled by its association with Andretti Autosport, a renowned racing team that has established itself as a leader in the world of motorsports. The company is confident that its brand recognition and expertise will enable it to attract top talent and drive growth in the automotive sector.

As the SPAC navigates the complex landscape of mergers and acquisitions, Andretti Acquisition remains committed to identifying opportunities that align with its vision for the future of mobility. With RBC as its underwriter, the company is well-equipped to execute its strategic plan and deliver value to investors.

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