TE advert. Click for website

“Is the tide turning for SPACs?” – SMG Consulting

“The tide is going out from the SPAC market” suggests Sergio Cecutta, Partner at SMG Consulting in a social media posting, “and the recent closing of Eve Air Mobility’s SPAC is another demonstration of this trend: with redemptions at almost 92%, this is second most redeemed SPAC in Advanced Air Mobility, after Vertical Aerospace”.

The analysis cited is “Eve received USD334.4 million, against an expected maximum forecasted raise (net of closing costs) of USD551.6 million which is short of the USD430 million the company previously indicated it needed to take the aircraft to certification.”

The post continues “The company [Eve Air Moblity] now believes that the amount raised is sufficient for certification” and that “as a de facto Embraer division which owns 90% of Eve”, SMG think “that the company will provide additional funding to get Eve’s eVTOL to certification through an expansion of the master services agreement.”

For more information


Share this:
supernal advert. Click for website