ACIC - SPAC Broadstone Acquisition gains on report of deal for flying taxi startup Vertical Aerospace

MARHARYTA MARKO/iStock via Getty Images SPAC Broadstone Acquisition (BSN) rose 0.7% after a report that the company is in advanced discussions to take British flying taxi startup Vertical Aerospace public. A transaction may be announced as soon as tomorrow, according to an earlier report from Sky News. The deal will liley value Vertical Aerospace at close to $2B. Vertical Aerospace joins several other flying taxi companies that have announced SPAC deals this year include Joby Aviation, which is going public though a deal with SPAC Reinvent Technology Partners (RTP) and Archer Aviation, which is going public through SPAC Atlas Crest Investment Corp. (ACIC). German all-electric vertical takeoff company Lilium GmbH, is also going public through a deal with Qell Acquisition (QELL). Last week, Broadstone Acquisition gets NYSE notice for failing to file quarterly report.

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SPAC Broadstone Acquisition gains on report of deal for flying taxi startup Vertical Aerospace