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:

U.K.-based air taxi startup Vertical Aerospace (EVTL) has officially gone public on the NYSE following its merger with Broadstone Acquisition Corp., making it the fourth eVTOL company to do so via a SPAC this year.
The SPAC-IPO is valued at $2.2 billion, generating approximately $300 million in proceeds, which Vertical plans to use for certifying its VX4 aircraft and scaling production.
Vertical has secured over 1,350 conditional pre-orders for its VX4 eVTOL, aims for 2024 certification, and differentiates itself as a pure-play OEM with investments and partnerships from major aviation leaders like American Airlines and Rolls-Royce.

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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.