Vertical Aerospace Group went public via a SPAC merger with Broadstone Acquisition Group in a $2.2bn deal.

Vertical Aerospace Group, an electric vertical takeoff and landing aircraft maker, went public via a SPAC merger with Broadstone Acquisition Group, a blank check company, in a $2.2bn deal. The ordinary share PIPE includes commitments from institutional investors, 40 North and Microsoft's M12 as well as the following strategic investors: American Airlines, Avolon, Rolls-Royce and Honeywell. The combination is expected to close in the second half of 2021. "This listing is a landmark moment for Vertical Aerospace. We have global leaders in aviation as partners and a world-class team that can make zero-emissions flight a reality for millions of people around the world. It is fantastic to reach this milestone and I am so proud of what the team has achieved," Stephen Fitzpatrick, Vertical Aerospace CEO and Founder.