Eve Holding, Inc. (NYSE: EVEX) shares enjoyed slight early gains, as the company formerly known as Zanite Acquisition has closed the previously announced business combination with Eve UAM, LLC, a leader in the development of next-generation Urban Air Mobility solutions and a subsidiary of Embraer S.A. (NYSE: ERJ). The transaction was approved by Zanite's stockholders on May 6.
With the transaction now complete, Zanite has changed its name to "Eve Holding, Inc." In connection with the closing of the transaction, Zanite's securities will be voluntarily delisted from the NASDAQ Capital Market after market close on May 9, and the Company's common stock and public warrants are expected to begin trading on the New York Stock Exchange on May 10, 2022 under the symbols "EVEX and "EVEXW", respectively.
"The successful completion of this transaction is an important milestone, providing capital and strategic support for Eve to play a pivotal role in accelerating the global UAM ecosystem,” said co-CEO Andre Stein.
“The funding raised through the transaction provides Eve with growth capital and positions Eve well to execute its development plans, aided by our ongoing strategic partnership with Embraer. We intend to further strengthen our position as a leading global UAM player by delivering an effective and sustainable new mode of urban transportation.”
EVE shares gained four cents to $9.96, while those for ERJ lost 51 cents, or 4.5%, to $10.77.
