Air Taxi Start-Up Vertical Aerospace to Go Public With Funding From American Airlines, Others
Air taxi start-up Vertical Aerospace Group said late Thursday it intends to go public with nearly $400 million in new funding from a number of big-name partners who have also agreed to order up to 1,000 aircraft.
Vertical has a deal to merge with special purpose acquisition company (SPAC) Broadstone Acquisition (NYSE: BSN). The deal values the combination at about $2.2 billion and includes investments from American Airlines Group (NASDAQ: AAL), air-leasing company Avolon, and Virgin Atlantic airline, as well as an investment arm of Microsoft.
Image source: Getty Images.
Source Fool.com
