Eve Holding, Inc., formerly Zanite Acquisition Corp., is engaged in the development of next-generation urban air mobility (UAM) solutions. The Company is engaged in approaching to the progress of the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network, and an air traffic management solution. The Company offers services, such as UAM services and fleet operations, services, and support.
$EVEX began trading as the merged company after De S P A C on 5/10/2022. The company is majority owned by $ERJ. Embraer SA is a Brazil-based jets manufacturer. The Company produces aircraft for commercial and executive aviation, as well as for defense and security purposes and related services.
The significant ownership by a strategic parent company is interesting consider most of these types of companies go public with the sole purpose of dumping shares on retail.
Here are a few key components of $EVEX's current share structure that make it a candidate for a gamma and short squeeze.
Confirmed float is ~ 1.91 million shares which currently trade around $9.50/share. The options chain only goes to $20/share currently. Market cap is around $2.5 billion, but trade-able float is around $20 million.
The short interest is around 500k shares. None of the PIPE shares have been registered and the parent owned shares are locked for 3 years.
The cost to borrow is approaching 100% and there are few shares left to borrow. Volume on the June expiry calls is just beginning to see some life. This has a nice setup similar to $SST which had a run to the high $30's before falling back down to around $10/share today. We could be early on another potential De S P A C runner.
We are holding options and common shares. There are warrants available too, but we aren't playing those currently.
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