Zanite Acquisition filed a proxy and scheduled a May 6 meeting for shareholders to vote on the SPAC’s proposed merger with flying taxi service Eve Air Mobility. Zanite intends to buy Eve from Brazil-based parent company Embraer.
Since the deal was announced in December the SPAC has raised commitments for its PIPE three times. The PIPE now stands at $357.3 million.
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 in cash. Read more.
