Galata Acquisition Corp. enters definitive merger agreement with Marti Technologies Inc.

Marti Technologies, Inc.

SPAC to merge with Marti Technologies; each share of Marti common to receive SPAC Class A shares based on 45M total shares.
Earnout: up to 9M additional SPAC shares if share price reaches $20 per share over five years.
Closing requires SPAC to have at least $50M cash after redemptions and subscriptions.
Investor Rights Agreement sets board: six directors nominated by Marti, one by Sponsor.
Outside date for closing is nine months from signing (July 29, 2022).

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