Zanite Acquisition in an 8-K filing said it has secured PIPE financing for 1 million units to support its propsoed merger with flying taxi service Eve Air Mobility. Eve’s parent company, Brazil-based Embraer, is making the investment.
The SPAC now has PIPE commitments of $357.3 million.
As announced in December, the deal calls for Eve to receive approximately $512 million in cash, resulting in a total pro forma equity value of approximately $2.9 billion, assuming no SPAC share redemptions.
The proceeds will be funded through a combination of the PIPE and Zanite’s approximately $237 million cash in trust. Read more.
