SPAC

Volato has officially merged with PROOF Acquisition Corp I (PACI), clearing the way for the private aviation company to go public.

The blank-check company filed for a raise of up to $100 million and will target businesses serving the global space economy.

Since going public via a SPAC-IPO last summer, Wheels Up’s share price has slumped in the public markets amid questions about its addressable market and profitability.

In a joint interview with FLYING, the CEOs of both companies discussed their partnership, the expectation of inflight connectivity, and flyExclusive’s planned IPO.

Beginning in New York and Los Angeles, Delta and Joby plan to integrate Joby’s services as a premium shuttle service to and from airports where Delta operates. This will run alongside Joby’s planned airport services, making the partnership mutually exclusive in the U.S. and the U.K. for half a decade after Joby’s commercial launch.

Company will combine with Southern Airways, go public via a SPAC, and partner with AeroTec and magniX.

A shareholder proxy vote on the union that would take Embraer’s eVTOL company public has been scheduled for May 6.

Redwire Space, a partner in Blue Origin’s proposed orbiting space station, is the target of a class-action lawsuit alleging federal securities fraud. 

Sir Richard Branson’s Virgin Orbit, a satellite launch and services company, will officially become a publicly traded company following its merger with NextGen Acquisition Corp. II (NASDAQ: NGCA).

Blank-check companies spent billions trying to get a jump on this potentially lucrative market.