EVe Mobility Acquisition Sells Sponsor Control to Blufire Capital

EVe Mobility Acquisition in a regulatory filing said it entered into a purchase and sponsor handover agreement with Blufire Capital, an Abu Dhabi private company. EVe’s sponsor agreed to transfer 6,320,667 Class A shares in exchange for Blufire assuming certain liabilities of EVe and the sponsor, including costs and expenses. Blufire also agreed to convert approximately $425,000 of working capital notes owed by EVe to the sponsor into Class A shares at the closing of a business combination at a rate of one share for every $10 in working capital notes.

New members of EVe’s board and a new management team for EVe must be appointed by the existing board and the existing management team, other than EVe’s Chief Operating Officer, Jesvin Kaur, would resign.

EVe raised $220 million in a December 2021 IPO to focus on the mobility-related ecosystem. Read more.

Article originally published here: https://news.spacconference.com/2024/02/07/eve-mobility-acquisition-sells-sponsor-control-to-blufire-capital/