Zanite Acquisition, spearheaded by Kenn Ricci, principal of Directional Aviation, which owns Flexjet, Sentient Jet and PrivateFly as well as on-demand brokerage FXAIR, and Steven Rosen, head of Resilience Capital, has priced its $200 million initial public offering (IPO) at $10.00 per unit.
Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The units will be listed on the Nasdaq and will begin trading today.
The blank check or special purpose acquisition company (SPAC) plans to target businesses in the aviation, aerospace & defense, urban mobility, and emerging technology industries with enterprise values between $600 million to $1.5bn.