AIR Limited, the world's largest flavored hookah producer and owner of the Al Fakher brand, has entered into a definitive agreement to combine with Cantor Equity Partners III, Inc. The deal, when completed, will result in the creation of AIR Global Limited, which is expected to become a publicly listed company in the United States. The transaction values the combined company at a pro forma enterprise value of $1.749 billion. The boards of both companies have unanimously approved the agreement, and the transaction is anticipated to close in the first half of 2026, subject to customary conditions. The new capital is intended to support AIR's expansion into new markets, advance premium product innovations, and drive digital transformation.