Article_Normal, Airlines, Passenger Airlines, Aerospace/Defense, Air Transport, Automotive, Business/Consumer Services, Industrial Goods, Shell Company, Transportation/Logistics

Article_Normal, Airlines

Microsoft and American Airlines-backed flying taxi startup to go public in new $5 billion blank-check wave

A developer of electric, flying taxis is set to go public in New York by merging with a SPAC, as part of the latest wave of listings bringing more than $5...

6/12/2021 7:24:00 AM

A developer of electric, flying taxis is set to go public in New York by merging with a blank-check SPAC as part of the latest wave of listings bringing more than $5 billion in enterprise value to the stock market.

A developer of electric, flying taxis is set to go public in New York by merging with a SPAC, as part of the latest wave of listings bringing more than $5...

Vertical Aerospace announced on Thursday that it would merge with Broadstone Acquisition Corp BSN.UT, +1.96%, bringing around $394 million in gross proceeds to the company as part of a move to become publicly listed on the New York Stock Exchange. Shares in Broadstone were trading 0.5% higher on Friday, after rising around 3.5% in the premarket.

Cuomo defiant after probe says he sexually harassed 11 women Biden to announce new eviction ban due to COVID spread Biden calls on New York Gov. Andrew Cuomo to resign after report details sexual harassment allegations

Based in Bristol, England, Vertical Aerospace was founded in 2016 by energy entrepreneur Stephen Fitzpatrick. The group develops electric vertical takeoff and landing aircraft — fixed-wing planes that perform like helicopters — for urban mobility solutions such as passenger taxis, medical evacuations, and carrying cargo.

Its flagship low-noise, zero-emissions VA-X4 prototype will be able to carry five people more than 100 miles at a top speed of 202 miles an hour. Vertical Aerospace said it should be profitable and cash flow stable with annual sales of less than 100 aircraft. headtopics.com

Microsoft’s MSFT, +0.25% venture capital arm, American Airlines AAL, +0.30%, Honeywell HON, -0.47%, and Rolls-Royce RR, +0.81% were among those investing in the company through the private investment in public equity offering, or PIPE, the group said. The company said it had up to 1,000 aircraft preorders valued at up to $4 billion from American Airlines and aircraft leasing company Avolon, as well as a preorder option from Virgin Atlantic.

The deal with Broadstone is expected to close in the second half of the year. It values the group and its parent SPAC at an enterprise value of $1.84 billion and equity value of $2.2 billion, based on the $10 per share price in the PIPE.Vertical Aerospace is one of two European technology companies that this week announced plans to go public in New York via blank-check merger, in a new wave of investments amid the cooling down of the red-hot SPAC market of 2020-21.

German sports e-commerce platform Signa Sports United announced on Friday it would go public on the NYSE by merging with Yucaipa Acquisition Corp YAC, +1.12%. The group said the approximately $300 million PIPE investment was anchored by billionaire Ron Burkle, who leads Yucaipa and owns the Soho House chain of private members’ clubs, as well as institutional investors and sovereign-wealth funds.

The move is a bid from Signa to dominate in the sports e-commerce space, with expected net revenues of around $1.6 billion in the year to September 2021. Signa’s deal with Yucaipa also includes the acquisition of Wiggle, a popular U.K. online bicycle brand. Wiggle is currently owned by private equity group Bridgepoint, which bought the brand a decade ago and is slated to receive shares in the new public company. headtopics.com

Biographer says Trump is a ‘nefarious performance artist’ Why Tyson's employee vaccine requirement stands out White House mourns recent suicides among officers who responded to Capitol insurrection: 'A sad reminder' of January 6 attack Read more: MarketWatch »

70% U.S. adults have taken at least one dose of COVID-19 vaccine - CDC

Nearly three out of four Americans above the age of 18 have received at least one dose of a COVID-19 vaccine as of Monday, according to the U.S. Centers for Disease Control and Prevention (CDC).

Future memestock material! Lol Yeah, but you got a 1/100 chance of dropping out of the sky.... might be worth it thanks

Helmet Laws Are Not What New York City Cyclists Need Right NowElected officials keep proposing more rules for bicycles and scooters. But what's really needed is traffic-calming infrastructure to make streets safer. awalkerinLA reports awalkerinLA Hmm, if everyone driving in NYC knew they couldn’t speed bc every block & red light had a camera we’d have a no nonsense atmosphere and tourists would even feel safe to rent a car awalkerinLA Riding a bike in a city street is a suicide mission. We need new infrastructure money for our roads! awalkerinLA How about those who use them stop at red lights, instead of endangering pedestrians. And riding the sidewalks-endangering pedestrians.

New York Senate passes bill that could force Apple to loosen its grip on device repairsThe right to repair is becoming a codified reality. Louis Rossmann just entered the chat. Shoutout Louis Rossmann It’s time for Apple to give customers the right to repair the devices they own 💻📱 Find out more about the Right to Repair and our campaign here: capitalatrisk apple righttorepair circulareconomy sustainability trading stocks broker investment

Will empty shopfronts revive as New York comes back to life?Despite government support during the pandemic many business owners cut their losses, terminated their leases and closed down, pushing retail vacancies in New York to new highs nice Work LESS to work ALL & live BETTER WarrenBuffet calls for a 4-HOUR working day, more the participation of CITIZENS-EMPLOYEES-CUSTOMERS-SUPPLIERS in decisions & management of the company to the EQUAL of shareholders & managers. An INVENTIVE & COLLABORATIVE economic democracy If I enjoy this privilege all alone, it shows how ungrateful I am because I got my breakthrough from a post been posted online as well and I also want to recommend everyone too. All thanks to the good work of kimberlyalr88

School board members in New York wanted to embrace diversity, but hecklers had other plansAt a school board meeting in Commack, Long Island, this week, members of the public heckled board members and students alike in a contentious back and forth regarding school curriculum Critical Race Theory is The GQP’s new Caravan. Critical race theory? That is what they are being taught more then anything in our schools today of what minorities have been through and contributed yet hardly a mention on any of the European immigrants that came her and helped build this nation. IT’S SAD I CAN TELL CNN’S STANCE ON CRITICAL RACE THEORY JUST BY THE HEADER

One Year After the BLM Protests, New York Is Close to Electing a CopHow did a pro-cop candidate end up leading mayoral polls in a city that protested police brutality in massive numbers? Cause NYC has never been anti-police just anti-bad police - He is actually offering solutions to make things better to improve Cop relations and keep everyone safe. Accountability is what everyone seeks. From his home in NJ

New York state assembly passes bill that would create gender-neutral marker on state identificationA New York bill that would allow people to use a gender-neutral 'X' as a gender marker on driver's licenses and birth certificates passed the New York State Assembly on Thursday and now goes to the governor for final approval. That is hypocrisy... How pathetic, when did all this nonsense over gender begin, barely a day goes by without a pathetic story about gender . Pathetic Those whom the gods wish to destroy they first make mad! The white man has dumbed himself down it the age of the black and brown god save the white man😂