Set Jet To Become Public Via Merger With Revelstone Capital Acquisition Corp.
Portfolio Pulse from Happy Mohamed
Set Jet, a membership-based private jet charter program, is set to go public through a merger with Revelstone Capital Acquisition Corp. (RCAC). The deal includes $18 million in fully committed financing from Coleman Group. The combined company will operate as Set Jet and plans to continue listing on the Nasdaq under the symbol SJET. The merger is expected to close in Q4 2023.
July 18, 2023 | 1:05 pm
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Revelstone Capital Acquisition Corp. (RCAC) is merging with Set Jet, which will result in Set Jet becoming a publicly traded company. The deal is expected to close in Q4 2023.
The merger with Set Jet is a significant event for Revelstone Capital Acquisition Corp. (RCAC) as it will result in a new publicly traded company. This could potentially increase the value of RCAC's shares in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
TASER, now known as Axon Enterprise Inc. (AXON), is mentioned in the article as the previous company of Set Jet's CEO and co-founder, Tom Smith.
The mention of Axon Enterprise Inc. (AXON) in the article is in relation to the previous company of Set Jet's CEO and co-founder, Tom Smith. This does not directly impact AXON's stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20