Benzinga | Aug 2, 2021 06:45AM EDT

Altimeter Growth Corp. Business Combination Partner Grab Reports Q1 Adj. Net Sales $507M, Up 39% YoY

* Q1 2021 Adjusted Net Sales reached an all-time high of $507 million and grew 39% year on year. Revenue presented in accordance with IFRS was $216 million, also a record for Grab

* Quarterly Adjusted EBITDA improved by $233 million year on year to $111 million

* Grab has filed a registration statement on Form F-4 with the U.S. Securities and Exchange Commission in connection with its proposed business combination with Altimeter Growth Corp.

* Provides updates on revenue presentation contained in the Form F-4 and proxy materials as well as post-merger Board of Directors