Zanite Acquisition said it has extended the period of time it will have to consummate its initial business combination by six months from May 19 until Nov. 19. Thre SPAC’s sponsor deposited $2.3 million in its trust account, representing the aggregate purchase price for an private placement warrants at $1 each. Zanite said, “The company’s stockholders are not entitled to vote on or redeem their shares in connection with such extension of the completion window.”
The SPAC raised nearly $240 million in a November IPO to target companies in the aviation, aerospace and defense, urban mobility and emerging technologies industries. Read more.
