RYCEF - SPAC Broadstone Acquisition gains after confirming deal for flying taxi startup Vertical Aerospace

sergeysan1/iStock via Getty Images SPAC Broadstone Acquisition (BSN) rose 1.3% in after hours trading after the company confirmed a deal to take British flying taxi startup Vertical Aerospace public.The transaction is expected to close in second half of 2021 and values the combined company at a pro forma equity value of $2.2B, according to a statement. The deal is expected to result in gross proceeds of $394M.Vertical will be listed on the NYSE under the ticker "EVTL." Vertical also announced investments from American Airlines (AAL), Avolon, Honeywell (HON) and Rolls-Royce (RYCEF), who have invested in the PIPE. Microsoft's M12 (MSFT), 40 North and Rocket Internet SE (RCKZF) also invested in the business.American Airlines agreed to pre-order up to 250 aircraft and has an option to order an additional 100 aircraft. Avolon has agreed to pre-order up to 310 aircraft with an option for a further 190, and Virgin Atlantic has an option

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SPAC Broadstone Acquisition gains after confirming deal for flying taxi startup Vertical Aerospace