After backing from Virgin Atlantic and Rolls Royce, the U.K.-based start-up is aiming for a $2.2 billion valuation and will be listed on the New York Stock Exchange.
/PRNewswire/ Vertical Aerospace is a leading UK-headquartered engineering and aeronautical business founded in 2016 by energy tech entrepreneur Stephen.
Bristol-based flying taxi firm to list in US through SPAC deal - report
In March, Vertical Aerospace announced it would be working with Rolls-Royce to develop the engines.
Two of the UK’s highest-profile entrepreneurs are to list a ‘flying taxi’ business in the US with an estimated value of US$2bn.
OVO Energy founder Stephen Fitzpatrick is in talks to merge his Vertical Aerospace business with Broadstone, a special acquisitions company or SPAC set up by Hugh Osmond, who is best known for his involvement in Pizza Express, Punch Taverns and insurer Phoenix Group.
Sky News reported that the deal might be announced a soon as tomorrow, with Vertical Aerospace targeting its first flight in 2024.