Zanite Acquisition, a blank check company formed by Resilience Capital and Directional Aviation, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.
The Cleveland, OH-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Zanite Acquisition would command a market value of $250 million.
The company is led by Co-CEO and Director Steven Rosen, who currently serves as Co-CEO of private equity firm Resilience Capital Partners, and Co-CEO and Director Kenneth Ricci, who currently serves as a Principal of Directional Aviation Capital and is the founder and CEO of Nextant Aerospace. The company plans to target businesses in the aviation, aerospace & defense, urban mobility, and emerging technology industries with enterprise values between $600 million to $1.5 billion.
Zanite Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol ZNTEU. The SPAC filed confidentially on September 14, 2020. BTIG is the sole bookrunner on the deal.
