Capital A today announced a business combination agreement with Aetherium Acquisition to list in the U.S. public markets at a $1.15 billion transaction value. CAPI leverages the expansion, management and licensing of the AirAsia brand, and serves as a global marketing catalyst for Asean brands.
CAPI will be led by Tony Fernandes, who acquired AirAsia in 2001 and transformed it into a global airline.
News reports of an imminent deal first emerged in October 2023, although a definitive agreement had not been reached.
Capital A also plans to raise more than $1 billion in debt and equity.
Capital A expects to record a one-off gain from the proposed combination.
Aetherium had just under $30 million in its trust as of November last year.
Greenberg Traurig is U.S. legal counsel and Foong & Partners serves as Malaysian legal counsel to CAPI. Rimon P.C. is US legal counsel to Aetherium. Read more.
