PlusAI files registration document for SPAC merger ahead of 2027 driverless launch

Dive Brief: PlusAI filed a registration statement with the Securities & Exchange Commission on Oct. 9 for its planned merger with special purpose acquisition company Texas Ventures Acquisitions III Corp., announced last month.

Its first-half 2026 net lost narrowed to $7.9 million from $56.9 million a year earlier, according to the filing.

PlusAI absorbed a $10.2 million write-off tied to a terminated SPAC deal in April.

Once the merger closes, PlusAI expects to recognize about $34.4 million in stock-based compensation, which would widen its losses for the year.

The SPAC’s deadline to close the deal was Oct. 24, but shareholders approved an extension agreement Oct. 19, according to a SEC filing.