Vertical Aerospace announces a new partnership with Marubeni Corporation to explore sustainable Advanced Aerial Mobility solutions in Japan, enhancing its pre-order book to 1,350 eVTOL aircraft valued at approximately $5.4 billion. Marubeni's conditional pre-order of up to 200 aircraft accelerates Vertical’s entry into the Japanese market. Together, they plan to evaluate operational requirements and infrastructure for eVTOL operations, aiming to begin in 2025. This collaboration is expected to transform short-haul travel in Japan, offering a greener alternative to existing options.
Vertical Aerospace, a UK-based eVTOL aircraft developer, has announced a business combination with Broadstone Acquisition Corp. (NYSE: BSN). This merger values Vertical at approximately $2.2 billion and is expected to close in the second half of 2021. Major investors include American Airlines and Rolls-Royce, with pre-orders for up to 1,000 aircraft valued at $4 billion. Vertical aims for commercial operations by 2024 and anticipates profitability with sales of fewer than 100 aircraft annually. The VA-X4 is designed for zero emissions and is expected to set new safety standards.
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Broadstone Acquisition Corp. announced the closing of an additional issuance of 530,301 units during the partial exercise of the underwriters' over-allotment option related to its initial public offering. The units were sold at $10.00 each, generating additional gross proceeds of $5,303,010. This brings the total gross proceeds from the IPO to $305,303,010. Broadstone aims to focus its acquisition efforts on fundamentally sound but stressed businesses in the UK and Europe.