EVE, a developer of next-generation urban air mobility solutions, went public via a SPAC merger with Zanite Acquisition, a special purpose acquisition company focused on the aviation sector, in a $2.4bn deal. Transaction includes a PIPE investment from Azorra Aviation, BAE Systems, Bradesco BBI, Falko Regional Aircraft, Republic Airways, Rolls-Royce and SkyWest. On May 6, 2022, Zanite stockholders approved the merger deal. "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. 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," Andre Stein, EVE Co-CEO.