Vertical says it now has more than 1,350 conditional pre-orders of its VX4 aircraft. Courtesy: Vertical Aerospace
Key Takeaways:
Broadstone Acquisition Corp. will hold a shareholder vote on December 14 regarding a merger with Vertical Aerospace, potentially taking the eVTOL company public as "EVTL" by December 16.
Vertical Aerospace has strong investor backing, including over 1,350 pre-orders valued at $5.4 billion from major airlines and a recent $205 million funding boost.
The company is developing the VA-X4, a four-passenger eVTOL aircraft designed for 200 mph and a 100+ mile range, with a target for type certification by 2024.
Despite Vertical's robust support, the broader market for mobility SPACs has experienced lukewarm sentiment, with other eVTOL companies facing significant shareholder redemptions.
Broadstone Acquisition Corp. (NYSE:BSN), a special purpose acquisition company (SPAC), has announced a shareholders proxy vote on a merger with Vertical Aerospace that could take the air taxi company public in two weeks.
The meeting is scheduled to be held virtually and in New York on December 14.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
