Embraer’s UAM unit, Eve Mobility, begins trading on Wall Street

Embraer’s urban air mobility (UAM) operation, Eve, has joined a growing number of next-generation aircraft companies going public using a relatively recent kind of stock market floatation procedure.

Shares of Eve began trading yesterday following an issue on the New York Stock Exchange that raised a total of $377 million. The introduction was made possible by Eve’s merger with Zanite, a special purpose acquisition company (SPAC) created specifically to enable an expedited process of going public – an innovation that has been repeatedly used by startups in the past year. Other UAM sector firms that have gone the same route include Lilium, Joby, Archer, and Vertical.

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