Shares of InterPrivate III Financial Partners Suspended By NYSE While It Reviews Cos Transistiion Application

As previously disclosed in a Current Report on Form 8-K filed on December 27, 2022, InterPrivate III Financial Partners Inc. (the "Company") held a special meeting of stockholders on December 21, 2022 (the "Special Meeting") to approve an amendment to the Company's Amended and Restated Certificate of Incorporation extending the time in which the Company must complete an initial business combination and permitting the Company's board to wind up the Company at an earlier date in certain circumstances. As the Company's securities are listed on the New York Stock Exchange (the "NYSE"), it is required to maintain an average aggregate global market capitalization attributable to its publicly held shares (a "public float") of $40,000,000 under Section 802.01B of the NYSE Listed Company Manual (the "LCM"). In connection with the Special Meeting, the Company's public stockholders had the option to redeem their shares of Class A common stock. In anticipation of receiving redemptions that would reduce the Company's public float to below $40,000,000 but greater than $20,000,000, the Company determined to apply to list its securities on the NYSE American, which is part of the NYSE group of exchanges. The listing standards of the NYSE American include a lower public float standard than that of the NYSE ($20,000,000 rather than $40,000,000). Following the Special Meeting and such redemptions, approximately $20.2 million in cash remained in the trust account. The Company is in ongoing discussions with the NYSE regarding its application to list its securities on the NYSE American. On February 2, 2023, the Company's public float remained under $40,000,000 for the preceding consecutive 30 trading day period. The NYSE informed the Company by telephone conference on February 1, 2023 that the NYSE is continuing to evaluate the Company's application materials submitted and to be submitted by the Company for transitioning the Company's listing to the NYSE American to determine whether to approve its securities for trading on the NYSE American. The NYSE informed the company that trading of the Company's Class A common stock, warrants to purchase Class A common stock, and units, each consisting of one share of Class A common stock and one redeemable warrant, would be temporarily halted effective as of approximately 4:00 p.m. Eastern Time on February 2, 2023, to allow the NYSE additional time to review the Company's transition application. There can be no assurance that the Company will be able to obtain an alternative listing on the NYSE American or otherwise, or that the transition from the NYSE to the NYSE American, if it can be effected, can be effected without a time gap in being listed. The foregoing actions and their consequences could affect the liquidity and value of the Company's Securities.