Flybondi Limited, an Argentina-based, low-cost airline, today announced a definitive business combination agreement with Integral Acquisition 1.
If the deal is approved, shares of the airline are expected to list on the Nasdaq under the symbol FLYB.
The planned transaction is structured as a share exchange and a subsidiary merger. There were no financial details on the deal cited in the announcement, nor has the SPAC yet filed information with the SEC beyond a copy of the press release. Integral raised $100 million in an IPO almost two years ago with plans at that time to target a business combination with a technology-oriented company in Australia or New Zealand.
Flybondi has served more than nine million passengers since its launch in 2018, according to the press release announcing the deal. Currently, Flybondi holds a 20% market share in Argentina’s domestic air travel segment. With operating bases in Ezeiza and Aeroparque airports in Buenos Aires, Flybondi currently serves 20 destinations across Argentina and Brazil.
Greenberg Traurig, Marval O’Farrell Mairal, and DWF Law are serving as legal counsel to Flybondi.
Ellenoff Grossman & Schole, and Beccar Varela, and Travers Smith are serving as legal counsel to Integral 1. Read more.
