Zanite Acquisition Corp debuts IPO

Zanite Acquisition Corp, an aviation-focused blank check company, has raised $200 million for its IPO after pricing its 20 million shares at $10 per share.

Zanite Acquisition Corp, an aviation-focused blank check company, has raised $200 million for its IPO after pricing its 20 million shares at $10 per share. The stock began trading November 17, 2020 on the NASDAQ under the ticker symbol “ZNTEU.” BTIG LLC is the underwriter. Zanite is led by co-CEOs Steven H. Rosen and Kenneth C. Ricci. Rosen is the co-founder and co-CEO of Resilience Capital Partners and Ricci is a principal of Directional Aviation Capital.

PRESS RELEASE

CLEVELAND–(BUSINESS WIRE)–Zanite Acquisition Corp. (“Zanite” or the “Company”) announced today that it priced its initial public offering of 20,000,000 units 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 Capital Market (“Nasdaq”) and will begin trading tomorrow, Tuesday, November 17, 2020, under the ticker symbol “ZNTEU”. Only whole warrants are exercisable. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “ZNTE” and “ZNTEW,” respectively.

Zanite is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company may pursue an acquisition opportunity in any business or industry, it intends to focus on companies in the aviation, aerospace and defense, urban mobility and emerging technologies industries.

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. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price, to cover over-allotments, if any.
The public offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from: BTIG, LLC, 65 East 55th Street, New York, NY 10022, or by e-mail at equitycapitalmarkets@btig.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on November 16, 2020. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Zanite Acquisition Corp.
Zanite Acquisition Corp. is led by Co-Chief Executive Officers Steven H. Rosen and Kenneth C. Ricci. Mr. Rosen is the Co-Founder and Co-Chief Executive Officer of Resilience Capital Partners, a private equity firm. Mr. Ricci is a principal of Directional Aviation Capital, which owns various aviation enterprises.