White & Case Advises Flexjet on its US$3 Billion Business Combination with Horizon Acquisition Corporation II
2 min read
Global law firm White & Case LLP has advised Flexjet, a global leader in subscription-based private aviation, on its entry into a US$3 billion definitive business combination agreement with Horizon Acquisition Corporation II, a publicly traded special purpose acquisition company. Upon the closing of the transaction, Flexjet is expected to become a publicly listed company on the NYSE under the ticker symbol "FXJ."
Flexjet reaches private jet users through various storefronts that include Flexjet, Sentient Jet, FXAIR, PrivateFly and Sirio. Focusing on fractional jet ownership and leasing, jet cards, on-demand charter programs and full aircraft ownership, its US fractional aircraft program has a committed customer base of ultra-high-net-worth individuals and Fortune 500 corporations.
Proceeds of the transaction are expected to fund fleet, program and geographic expansion, as well as infrastructure expansion including maintenance support facilities and private terminals.
The White & Case team was led by partners Matthew Kautz, Joel Rubinstein (both New York), Daniel Nussen (Los Angeles) and Neeta Sahadev (Silicon Valley). The team also included M&A associates Gabrielle Hodgson and Kal Leung (both Silicon Valley); Capital Markets partner Jonathan Rochwarger and associates Sarah Ross, Adam Berkaw, Rana Ozer (all in New York) and Chad Klitzman (Miami); US Public Company Advisory partner Maia Gez (New York); Technology Transactions partner Burr Eckstut and associate Jarrah Al-Buainain (both New York) and Samuel Morris (Silicon Valley); Asset Finance partner Todd Wolynski and associates Gahyun Kim (both New York) and Brian Schmelkin (Miami); Antitrust partner Rebecca Farrington and associate Allain Andry (both Washington, DC); Trade partners Farhad Jalinous, Richard Burke and Karalyn Mildorf, and associate Evan Shaver (all in Washington, DC); Tax partner Scott Fryman (New York) and associates Neil Clausen and Sadi Moradi (both Houston); White Collar partner Daniel Levin (Washington, DC) and associate Marika Fain (Los Angeles); Environment & Climate Change partner Seth Kerschner (New York); Real Estate partner Steven Lutt (New York); and Employment, Compensation & Benefits partner Victoria Rosamond and associate Peter Shelburne (both New York).
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