26 May 2026
DLA Piper advises Cantor Equity Partners III, Inc. in closing of US$1.7 billion business combination with AIR Limited
DLA Piper advised Cantor Equity Partners III, Inc., a special purpose acquisition company sponsored by an affiliate of Cantor Fitzgerald, in the closing of its previously announced business combination with AIR Limited, the global leader in flavored shisha molasses and a pioneer in advanced inhalation technologies.
Upon closing, the combined company was renamed AIR Global PLC, and its ordinary shares began trading on the Nasdaq Stock Market under the ticker symbol “AIIR” on May 18, 2026. The transaction valued the combined company at an enterprise value of US$1.7 billion.
The DLA Piper team included Partners Stephen Alicanti, Sidney Burke, Carina Meleca, Bianca LaCaille (all New York), and Associate Nick Young (Phoenix). Additional support was provided by Partners William Bartow, Jae Kim (both Philadelphia), Paolo Morante (New York), Julia Kovacs, Aurelie Ercoli (both Washington, DC), and Victoria Richter (Chicago); Of Counsel Arlette Grabczynska (Chicago), Michael Madigan (New York), and Priya Narahari (Philadelphia); and Associates James Duchesne (Washington, DC), Jianyuan Hua (New York), Sarah Cooper (Seattle), and Irina Rudenko (Dallas).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as number one in VC, PE, and M&A in combined global deal volume, according to PitchBook.
DLA Piper enables issuers and underwriters to execute complex securities transactions throughout the world. We offer tactical approaches to financings across equity and debt capital markets, alternative public offerings (de-SPACs, reverse mergers, and direct listings), and other transformative corporate transactions. Lawyers in our Corporate Governance practice act as outside corporate and securities counsel to a wide range of reporting companies by guiding clients through securities offerings and nuanced disclosure, governance, and compliance matters under SEC, Nasdaq, and NYSE rules and regulations. Boards of directors turn to us to navigate complex transactions, special investigations, and challenging risk oversight matters. Please visit Capital Markets and Public Company Advisory and Market Edge.
Upon closing, the combined company was renamed AIR Global PLC, and its ordinary shares began trading on the Nasdaq Stock Market under the ticker symbol “AIIR” on May 18, 2026. The transaction valued the combined company at an enterprise value of US$1.7 billion.
The DLA Piper team included Partners Stephen Alicanti, Sidney Burke, Carina Meleca, Bianca LaCaille (all New York), and Associate Nick Young (Phoenix). Additional support was provided by Partners William Bartow, Jae Kim (both Philadelphia), Paolo Morante (New York), Julia Kovacs, Aurelie Ercoli (both Washington, DC), and Victoria Richter (Chicago); Of Counsel Arlette Grabczynska (Chicago), Michael Madigan (New York), and Priya Narahari (Philadelphia); and Associates James Duchesne (Washington, DC), Jianyuan Hua (New York), Sarah Cooper (Seattle), and Irina Rudenko (Dallas).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 15 consecutive years, according to Mergermarket, and ranked as number one in VC, PE, and M&A in combined global deal volume, according to PitchBook.
DLA Piper enables issuers and underwriters to execute complex securities transactions throughout the world. We offer tactical approaches to financings across equity and debt capital markets, alternative public offerings (de-SPACs, reverse mergers, and direct listings), and other transformative corporate transactions. Lawyers in our Corporate Governance practice act as outside corporate and securities counsel to a wide range of reporting companies by guiding clients through securities offerings and nuanced disclosure, governance, and compliance matters under SEC, Nasdaq, and NYSE rules and regulations. Boards of directors turn to us to navigate complex transactions, special investigations, and challenging risk oversight matters. Please visit Capital Markets and Public Company Advisory and Market Edge.