Market Chatter: Columbus Circle Capital II Said to Be in Advanced Talks to Merge With Elroy Air

MT Newswires Live

Jun 26

Columbus Circle Capital II (CMII) is in advanced talks to merge with cargo drone startup Elroy Air in a deal that would create a company with an enterprise value of about $1 billion, Bloomberg reported Friday, citing unnamed people familiar with the matter.

The deal values Elroy Air at about $800 million on a pre-money basis and includes a $165 million private investment in public equity anchored by SPAC sponsor Inflection Point Asset Management. An announcement could come as soon as Friday, the report said.

Columbus Circle Capital II and Elroy Air did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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An announcement could come as soon as Friday, the report said.</p><p>Columbus Circle Capital II and Elroy Air did not immediately respond to a request for comment by MT Newswires.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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An announcement could come as soon as Friday, the report said.Columbus Circle Capital II and Elroy Air did not immediately respond to a request for comment by MT Newswires.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}