Vertical says it now has more than 1,350 conditional pre-orders of its VX4 aircraft. Courtesy: Vertical Aerospace
Key Takeaways:
Vertical Aerospace's merger with Broadstone Acquisition Corp. (BSN) will be voted on December 14th, potentially making it public on the NYSE as "EVTL" by December 16th.
The merger, valued at $2.2 billion, has strong investor support, including pre-orders from major airlines and additional funding secured in October.
Despite initial projections, shareholder redemptions in similar SPAC mergers this year significantly reduced proceeds; the final amount for Vertical Aerospace remains uncertain.
Vertical's VA-X4 eVTOL aircraft, targeting 2024 certification, is designed for speed, quiet operation, and a range exceeding 100 miles, with Heathrow Airport as a potential 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.
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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.
