SAO PAULO—Shares of Brazilian planemaker Embraer SA soared on Tuesday after the company said it had agreed to combine its electric aircraft subsidiary Eve with Zanite SPAC and list it on the New York Stock Exchange. The transaction values Eve’s equity at $2.9 billion and will include the combination with Zanite Acquisition Corp and an additional investment by a group of investors that includes Embraer, Zanite, financial investors, and strategic partners such as Azorra Aviation, BAE Systems, Republic Airways, Rolls-Royce and SkyWest Inc. After the transactions, Eve, listed on NYSE under the ticker EVEX, will have a $512 million cash position that will be used to develop its flying taxi. The firm is expected to start trading in the second quarter of 2022, after the closing of the deal with Zanite. Eve already has an order pipeline of more than $5 billion. Among the customers with pre-orders are lessors, helicopter …
Embraer Shares Soar on Announcement of Eve Deal With SPAC, NYSE Listing
December 22, 2021
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