Vertical says it now has more than 1,350 conditional pre-orders of its VX4 aircraft. Courtesy: Vertical Aerospace
Key Takeaways:
Vertical Aerospace is set for a shareholder proxy vote on December 14 for a SPAC merger with Broadstone Acquisition Corp., with a potential NYSE listing by December 16 under "EVTL".
The eVTOL company has secured over $5.4 billion in pre-orders from partners like American Airlines and Avolon, alongside an additional $205 million in funding for its VA-X4 aircraft.
Despite strong investor support, the deal faces a challenging market where other mobility SPACs have experienced significant shareholder redemptions and some have even canceled IPO plans.
Vertical Aerospace plans to certify its VA-X4, a 200 mph, four-passenger eVTOL, by 2024, with Heathrow Airport as an infrastructure launch partner.
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.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
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.
