Vertical Aerospace Becomes Fourth eVTOL Company to Go Public

U.K.-based air taxi startup Vertical Aerospace has officially become a publicly traded company, following its merger with Broadstone Acquisition Corp.

Michael Wildes

Thursday, December 16, 2021 at 03:01 PM ET

Verified

Vertical says it now has more than 1,350 conditional pre-orders of its VX4 aircraft. Courtesy: Vertical Aerospace

Key Takeaways:

Vertical Aerospace (EVTL) has officially become a publicly traded company on the NYSE after merging with Broadstone Acquisition Corp., making it the fourth eVTOL company to go public via a SPAC this year.
The SPAC merger generated approximately $300 million in proceeds, which Vertical Aerospace intends to use for certifying its VX4 eVTOL aircraft and scaling production, targeting 2024 for certification.
The company has secured significant industry backing, including over 1,350 conditional pre-orders for its VX4 aircraft and investments from major partners such as American Airlines, Honeywell, and Rolls-Royce.

See a mistake? Contact us.

U.K.-based air taxi startup Vertical Aerospace (NYSE: EVTL) has officially become a publicly traded company, following its merger with Broadstone Acquisition Corp. (“Broadstone”) (NYSE: BSN).

The merger, which was approved by shareholders in a proxy vote on Tuesday,allows Vertical to be listed on the New York Stock Exchange. Of the shareholders present for the vote, more than 87 percent of them approved the merger, according to SEC filings.