Cohen & Co. SPAC Columbus Circle II signs deal to acquire drone developer Elroy Air

Cohen & Co Inc.

SPAC Columbus Circle Capital Corp. II (CMIIU) entered a definitive agreement to acquire Elroy Air, an autonomous heavy-cargo drone developer.
Cohen & Company Capital Markets acted as lead underwriter in the SPAC's IPO and is joint financial advisor and co-placement agent for the deal.
Closing expected in Q4 2026, subject to SPAC shareholder approval and other customary conditions.
Cohen & Company LLC holds approximately 667,000 founder shares in the SPAC, with final allocation determined at closing.

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