09:07 AM EST, 11/07/2025 (MT Newswires) -- Cantor Equity Partners III (CAEP) and Air Limited said Friday that they have signed a business combination deal to form a combined entity with a pro forma enterprise value of $1.75 billion.

Upon deal completion, the new entity Air Global will become publicly listed in the US, the companies said.

The boards of both companies have approved the merger, which is expected to be completed by H1 of next year, the parties said.

Shares of Cantor Equity were down more than 4% in recent Friday premarket activity.