Zanite Acquisition Corp. (ZNTEU) Prices $200M IPO


Zanite Acquisition Corp. (ZNTEU) Prices $200M IPO

Zanite Acquisition Corp. announced the pricing of its $200 million IPO this evening and its units are expected to begin trading on the Nasdaq under the symbol “ZNTEU” tomorrow, Tuesday, November 17.

The new company aims to combine with a target in the aerospace, defense, urban mobility or emerging technology spaces valued at between $600 million and $1.5 billion. Zanite is led by Co-CEOs Steven H. Rosen and Kenneth C. Ricci alongside CFO Michael A. Rossi.

Total SPAC deal count for 2020 year-to-date is now 180 with $65.3 billion in gross proceeds raised. This offering is expected to close on Thursday, November 19.

BTIG, LLC is acting as the sole book running manager for the offering and I-Bankers Securities, Inc. is acting as co-manager of the offering.  White & Case LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.