On November 19, 2020, Zanite Acquisition Corp. (the Company) consummated its initial public offering (IPO) of
23,000,000 units (the Units), including the issuance of 3,000,000 Units as a result of the underwriters exercise of their over-allotment option in full. Each Unit consists of one share of Class A common stock of the Company,
par value $0.0001 per share (the Class A Common Stock), and one-half of one redeemable warrant of the Company (each whole warrant, a Warrant), with each whole Warrant entitling the
holder thereof to purchase one share of Class A Common Stock for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $230,000,000.
On November 19, 2020, simultaneously with the consummation of the IPO, the Company completed the private sale (the Private
Placement) of an aggregate of 9,650,000 warrants (the Private Placement Warrants) to Zanite Sponsor LLC at a purchase price of $1.00 per Private Placement Warrant, generating gross proceeds to the Company of $9,650,000.
A total of $232,300,000, comprised of $225,400,000 of the proceeds from the IPO (which amount includes $8,050,000 of the underwriters
deferred discount) and $6,900,000 of the proceeds of the sale of the Private Placement Warrants, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A. maintained by Continental Stock Transfer & Trust Company, acting as
An audited balance sheet as of November 19, 2020 reflecting receipt of the proceeds upon consummation of the IPO and the
Private Placement has been issued by the Company and is included as Exhibit 99.1 to this Current Report on Form 8-K.
Financial Statements and Exhibits.