Zanite (NASDAQ:ZNTE) announced this afternoon in an 8-K that it has added $2.3 million to the PIPE for its combination with electric vertical take-off and landing vehicle (eVTOL) manufacturer Eve.
On March 9, the SPAC entered into a subscription agreement with an additional “strategic investor” that subscribed for an aggregate of 230,000 shares of common stock for $2.3 million. All total, Zanite has now agreed to issue and sell 31,730,000 shares to the PIPE investors for $317.3 million.
Zanite previously agreed to add $10 million to the PIPE on December 27, 2021, which brought it to a total of $315 million.
The original PIPE is made up of a $175 million investment by Embraer as well as $25 million from Zanite’s sponsor and a further $105 million from strategic investors Azorra Aviation, BAE Systems (LON:BAES), Bradesco BBI, Falko Regional Aircraft, Republic Airways, Rolls-Royce (LON:RR), and SkyWest (NASDAQ:SKYW).
The parties announced their $2.4 billion deal just a few months ago on December 21. Florida-based Eve is working to commercialize its eVTOL designs as air taxis and other mobility solutions as Embraer’s internally incubated play on that new market.
Southport (OTC:PORT) has entered into a definitive agreement to combine with Angel Studios at a pro forma enterprise value of $1.56 billion. Angel Studios produces film and TV content for both streaming and theatrical releases. The combined company is expected to trade on the NYSE or Nasdaq under the symbol “AGSD” once the deal is...
At the SPAC of Dawn Anyone hoping for fireworks at last night’s US presidential debate was unlikely to have been disappointed. But, for many industries and family pets just hoping to be left out of it, it was no dice. On the SPAC side of things, of course no de-SPAC is more tied to this...
At the SPAC of Dawn The market may be in for a rollercoaster 24 hours of macro indicators. Just as the first presidential debate reset market expectations about the political direction of the US, so too did a switch at the top of the ticket by one of the major parties. At 9 pm ET...
At the SPAC of Dawn September’s busy, but short, first week is set to keep rolling with three completion votes by Achari I (OTC:AVHI), Nova Vision (NASDAQ:NOVV) and Focus Impact (NASDAQ:FIAC) this week. All three of these have been postponed at least once, and could do so again, but Focus Impact has its transaction deadline...
Terms Tracker for the Week Ending September 6, 2024 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. It was a short holiday week and while it was light on filings, SPACs did manage to price two IPOs. That means 2024 has now...