Cleveland SPAC confirms interest in $2B flying-taxi company deal

Zanite Acquisition Corp. confirmed that it’s in talks to possibly merge with Brazilian aircraft maker Embraer’s Eve Urban Air Mobility Solutions in a $2 billion deal.

Cleveland-based Zanite (Nasdaq: ZNTEU) was formed last year and raised more than $200 million as a special-purpose acquisition company (SPAC) that’s targeting buying companies in the aviation, aerospace and defense industries.

Thursday night, it confirmed that it’s in talks to merge with Eve Urban Air Mobility, which makes flying taxis, but added in a statement that “there can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated.”