Zanite Acquisition in an 8-K filing disclosed it has issued a promissory note to its sponsor to borrow as much as $2 million as the SPAC works on closing a merger with Brazil-based Eve Urban Air Mobility, a subsidiary of Embraer S.A. Any draw down is due in full by Dec. 31. The loan does not accrue interest.
The SPAC is on its second deadline extension. The sponsor depostied $2.3 million into the Zanite trust account in November in consideration for the second extension. Read more.
