May Mobility SPAC Valuations & Funding Simulator

Model Configuration

SPAC Trust Valuation $1,400M

Base pre-money merger valuation target ($1.4B)

Funding Injection $300M

Reported fresh cash injection ($300M+ net)

Initial Active AV Fleet 500 AVs

Baseline operational autonomous vehicle count

Annual Fleet Growth 85%

Asset-light commercial rollout velocity (% YoY)

Asset-Light Capital Multiplier 1.6x

Capital efficiency factor vs owned balance-sheet fleet

Monthly Rev / Vehicle $3,200

Municipal microtransit & ride-hail subscription yield

Monthly OpEx / Vehicle $1,800

Remote supervision, depot servicing & fleet ops

5-Year Operating Model & Proof Telemetry Real-Time Dynamic Projection

Target Status: May Mobility Asset-Light Model | Year 3 Revenue: $65.8M | Runway: 48 Months

Implied Post-Money Valuation

$1700M

$1.4B SPAC + $300M Capital

Year 3 Fleet Count

1715 AVs

Asset-light commercial rollout

Year 3 Annual Revenue

$65.8M

Net operational run-rate

Projected Cash Runway

48 Mos

Sustained with asset-light margins

Net Cash Flow Status

Positive at Year 3

Fleet operational breakeven

Annual Revenue ($M)

AV Fleet Count

Net Cash Reserve ($M)

Horizon	Active Fleet	Gross Revenue	Total Fleet OpEx	Net Operational Flow	Ending Cash Balance