Zanite Acquisition in an DEC filing today said merger partner Eve Air Mobility will host an Investor Day highlighting the company’s plans as it seeks to go public. The presentation is scheduled for March 24 from 11 a.m. to 1:15 p.m. ET.
Eve is an eVTOL subsidiary of Brazilian company Embraer.
If approved, upon closing Eve Holding would list on the NYSE under new ticker symbol EVEX. Embraer S.A., through its subsidiary Embraer Aircraft Holding, will remain a majority stockholder with an 82% equity stake in Eve following the closing of the business combination, including its investment in a PIPE supporting the deal.
As announced in December, the transaction would deliver approximately $512 million in cash to Eve. The pro forma equity value of the combined company was cited as $2.9 billion, assuming no SPAC share redemptions.
The proceeds will be funded through a combination of Zanite’s approximately $237 million cash in trust and a $305 million PIPE with commitments of $175 million from Embraer, $25 million from Zanite’s sponsor and $105 million from a consortium of financial and strategic investors. Read more.
