Eve Urban Air Mobility on Tuesday became the latest eVTOL aircraft developer to announce plans to go public via a merger with a special purpose acquisition company. The subsidiary of Brazilian aerospace group Embraer said it has reached agreement to combine its business with Zanite Acquisition Corp. and seek a New York Stock Exchange listing under the name Eve Holding. Talks between Embraer and Zanite were first confirmed on June 11.
In their December 21 announcement, the companies said Embraer will remain the majority shareholder in Eve, with an 82 percent stake, based on its $175 million contribution to a $305 million public investment in private equity (PIPE) common stock (priced at $10 per share) that is also supported by $25 million from Zanite Sponsor and $105 million from a consortium of financial and strategic investors including Azorra Aviation, BAE Systems, Bradesco BBI, Falko Regional Aircraft, Republic Airways, Rolls-Royce and SkyWest. The transaction is also backed by a $237 million cash contribution from Zanite Acquisition, founded by Directional Aviation Capital principal Kenn Ricci and Steve Rosen, co-founder and co-CEO of Resilience Capital Partners. That gives Zanite about a 9 percent share in Eve.
The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.
The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.
The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.
The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background. The rest of this article continues for AIN Members with the full report, analysis and background.
