AIR Limited entered into a definitive business combination agreement to acquire Cantor Equity Partners III, Inc. (NasdaqGM:CAEP) in a reverse merger transaction for $1.5 billion on November 7, 2025. As a result of merger, AIR Limited is expected to list on the Nasdaq under the ticker ?AIIR? in the first half of 2026.

The transaction is subject to approval of merger agreement by shareholders and the board of directors of both the companies, execution of ancillary agreements, listing / approval of new shares on stock exchange, registration statement effectiveness(S-4 / F-4) and subject to antitrust regulations. The deal has been unanimously approved by the board. The Proposed Business Combination is expected to be completed in the first half of 2026.

Sidney Burke and Stephen P. Alicanti of DLA Piper LLP acted as legal advisor for Cantor Equity Partners III, Inc. Ryan Maierson and Jennifer M. Engelhardt of Latham & Watkins LLP acted as legal advisor for AIR Limited. Cantor Fitzgerald & Co. acted as financial advisor and capital markets advisor for Cantor Equity Partners III, Inc. Barclays PLC acted as financial advisor for AIR Limited. Wilmer Cutler Pickering Hale and Dorr LLP is acting as legal counsel to Barclays.