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MELBOURNE, Fla. - Eve Air Mobility (NYSE:EVEX), currently valued at $1.76 billion and trading at $5.86, announced on Thursday it has secured $230 million through a registered direct offering of common stock, while simultaneously establishing a dual listing on Brazil’s B3 stock exchange. According to InvestingPro data, the company maintains a strong liquidity position with more cash than debt on its balance sheet.
The urban air mobility company is selling 47,422,680 shares at $4.85 per share to investors including BNDESPAR, a subsidiary of the Brazilian Development Bank (BNDES), Embraer, and other institutional investors. The transaction is expected to close on August 15. The stock has shown remarkable strength, delivering a 144% return over the past year, though InvestingPro analysis suggests the stock may be trading above its Fair Value.
As part of the arrangement, BNDES will receive Brazilian Depositary Receipts (BDRs) representing Eve’s common stock, which will trade on the Sao Paulo Stock Exchange under the symbol "EVEB31." Each BDR is priced at R$26.21, equivalent to one share of common stock.
"Eve’s dual listing in the United States and Brazil is aligned with our continuous effort to diversify our investor base, bringing new stockholders from different locations," said Eduardo Couto, Chief Financial Officer at Eve.
The company plans to use proceeds from BDRs to pay for services performed in Brazil, with remaining funds allocated to general corporate purposes, including operations financing, potential acquisitions, and debt repayment.
Cantor Fitzgerald & Co., Raymond James & Associates, and Banco Bradesco BBI are serving as placement agents for the offering.
Eve, which develops electric vertical takeoff and landing (eVTOL) aircraft and other urban air mobility solutions, has been listed on the New York Stock Exchange since May 2022. The company is backed by Brazilian aircraft manufacturer Embraer. While the company maintains a healthy current ratio of 2.77, InvestingPro analysis indicates an overall weak financial health score, with additional insights available in the comprehensive Pro Research Report covering this emerging aviation player.
The announcement was made in a press release issued by the company.
In other recent news, Eve Holding Inc. reported a net loss for the second quarter of 2025, with earnings per share (EPS) coming in at -0.21. This result was below analyst expectations, which had forecasted an EPS of -0.164, marking a 28.05% negative surprise. Additionally, BTIG has assumed coverage on Eve Holding with a Neutral rating. This coverage transition was announced by analyst Andrew Madrid, who continues the Neutral stance previously held by Marvin Fong. These developments highlight the ongoing financial challenges and analyst perspectives surrounding Eve Holding.
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