[1] Morgan Stanley, eVTOL/Urban Air Mobility TAM Update, May 2021, View original content:http://www.prnewswire.com/news-releases/vertical-aerospace-announces-intention-to-become-publicly-traded-company-via-merger-with-broadstone-acquisition-corp-301310441.html, Plus500. Honeywell brings state-of-the-art flight controls and avionics systems, and the Vertical team has a tremendous history of innovation and design excellence. Competition between firms is usually the most effective way of delivering economic efficiency and what consumers want. However, there is a balance to be struck. "The process of certifying the aircraft is known. Made In NYC | Access to real-time, reference, and non-real time data in the cloud to power your enterprise. Vertical Aerospace was founded in 2016 by Ovo Energy boss Stephen Fitzpatrick to develop the world’s first all-electric vertical take-off and landing (eVTOL) aircraft. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the proxy statement/prospectus regarding the proposed business combination. Stock quotes by finanzen.net, NEW YORK and BRISTOL, England, June 10, 2021 /PRNewswire/ --. The VA-X4 is expected to be certified to the same standards as large commercial airliners and therefore is expected to be 100x safer than a helicopter. Stephen Fitzpatrick – Founder & CEO, Vertical Aerospace The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of OVO, a leading energy and technology group and Europe's largest independent energy retailer. Vertical's partnerships de-risk execution and its pathway to certification, allow for a lean cost structure, and enable production at scale. The Broadstone team has a proven track record of identifying markets ready for innovation and disruption and backing exceptional management teams to create industry leading businesses, across sectors and generating outstanding returns for investors. Accessibility Statement | Fed up with traffic jams? A telephone replay will be available at 1-844-512-2921 (U.S.) or 1-412-317-6671 (International), passcode: 13720391 through 24th, June, 2021, 11:59 PM ET. © 2021 Insider Inc. and finanzen.net GmbH (Imprint). View original content to download multimedia:https://www.prnewswire.com/news-releases/vertical-announces-appointment-of-experienced-independent-board-members-ahead-of-merger-with-broadstone-301413892.html, Plus500. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Broadstone cautions that the foregoing list of factors is not exclusive. Vertical Aerospace Announces Intention to become Publicly Traded Company via Merger with Broadstone Acquisition Corp. Vertical Aerospace Group Ltd. (“Vertical”), a leading UK-headquartered engineering and aeronautical business developing electric Vertical Take-Off and Landing (eVTOL) aircraft, has entered into a definitive agreement for a business combination with Broadstone … Vertical intends to certify the VA-X4 to European Union Aviation Safety Agency (EASA) standards – the most stringent global standards – in order to unlock a large UAM TAM of $1 trillion by 2040, with an upside TAM of $4.4 trillion by 2040[1]. The business combination values the combined company at a pro forma enterprise value of approximately $1.8 billion and pro forma equity value of $2.2 billion at the $10.00 per share PIPE price. U.K.-headquartered Vertical Aerospace is intending to go public with SPAC Broadstone Acquisition Corp., while Brazil’s Embraer subsidiary Eve Urban is … Found insideBut merger-to-monopoly has been for so long and so obviously illegal that they very rarely are even attempted, ... either because of the inherently fact-bound and case-specific nature of vertical merger cases, or because the process of ... Additional information regarding the interests of such participants will be contained in the proxy statement/prospectus for the proposed business combination when available. Found inside – Page 19Thereafter , the relative importance of horizontal and vertical mergers Major Merger Movements in the United ... aerospace , and movement is its conglomerate character ... virtually all of the increased larger merger activity in 1968 ... Explores the many factors that led Lockheed from near bankruptcy in the 1930s to become one of the most successful and innovative aerospace corporations in the world The four passenger, one pilot VA-X4 is projected to have speeds up to 200mph, a range over 100 miles, near silent when in flight, zero operating emissions and low cost per passenger mile. All proceeds will be retained by the business to fuel the company’s scale-up. Accessibility Statement | ", Warren East, CEO of Rolls-Royce, said: "We are delighted to build on our relationship with Vertical Aerospace as they take this strategic step to deliver eVTOL aircraft to a global market. Gur is an industry leader who has helped shape the future of aviation through a series of leadership roles at Amazon and Microsoft as well as serving as a member of the Federal Aviation Administration Drone Advisory Committee from 2016 to 2020. Commercial partnerships and individual conditional pre-orders have also been agreed with American Airlines, Virgin Atlantic and Avolon for up to 1,000 aircraft in total, providing a direct route to market and opportunity to work together on key go-to-market workstreams. Madhu Bhabuta, former Chief Technology Officer of the UK's Ministry of Defence. Vertical Aerospace is a leading UK-headquartered engineering and aeronautical business founded in 2016 by energy tech entrepreneur Stephen Fitzpatrick to … © 2021 Insider Inc. and finanzen.net GmbH (Imprint). And he’s not alone. Broadstone's and Vertical's actual results may differ from their expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. This communication relates to a proposed business combination between Vertical Aerospace Group Ltd. (together with its affiliates, "Vertical") and Broadstone Acquisition Corp. ("Broadstone") (the "proposed business combination"). Vertical Aerospace Announces Intention to become Publicly Traded Company via Merger with Broadstone Acquisition Corp. (NYSE: BSN). City sources said the merger with Broadstone - which was established by the businessman Hugh Osmond last year - could be announced as soon as Thursday. They added that the deal was likely to value Vertical Aerospace, which is targeting its first commercial flights in 2024, at close to $2bn (£1.4bn). In connection with the proposed business combination, Vertical has filed a registration statement on Form F-4 with the SEC, which will include a proxy statement of Broadstone in connection with Broadstone's solicitation of proxies for the vote by Broadstone's shareholders with respect to the proposed business combination and a prospectus of Vertical. This communication does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the proposed business combination. Broadstone's shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about Vertical, Broadstone, and the proposed business combination. Made In NYC | As for convincing passengers, that's where airlines come in. It will travel at speeds over 200mph, be near silent when in flight, produce zero emissions and at low cost per passenger mile. Under the Hart-Scott-Rodino (HSR) Act, parties to certain large mergers and acquisitions must file premerger notification and wait for government review. 72% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our, https://www.prnewswire.com/news-releases/vertical-announces-appointment-of-experienced-independent-board-members-ahead-of-merger-with-broadstone-301413892.html, Vertical Announces Appointment of Experienced Independent Board Members Ahead of Merger with Broadstone, Vertical Aerospace & Ferrovial reach agreement to rollout electric flight infrastructure, Vertical Aerospace announces $205 million in additional funding led by Mudrick Capital, Vertical & Heathrow to collaborate on future of urban air mobility, Vertical Aerospace recruits new COO from Rolls-Royce, Vertical hires renowned test pilot as it enters next phase of development, SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Broadstone Acquisition Corp. - BSN, SPACs Attack Recap: 7 SPAC Deals, SPAC Rumors And Headline News From Last Week. Automation and Industry 4.0 is a clear way forward to realize more operational efficiencies and mitigate transportation congestion and pollution.". Friday June 11 2021, 12.01am, The Times. Information, analytics and exclusive news on financial markets - delivered in an intuitive desktop and mobile interface. 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 United Kingdom is already a global leader in aerospace innovation and we believe Vertical Aerospace will be the British engineering champion to drive the aviation industry forward. Found inside – Page 136... the FTC has stated that it will consider attacking vertical mergers that could increase entry barriers by requiring new ... in September 2000, to attack the Boeing company's acquisition of GM's Hughes Aerospace satellite business. BRISTOL, England-- ( BUSINESS WIRE )--Vertical Aerospace (“Vertical”), a leading British eVTOL manufacturer which is pioneering the transition to carbon free … Their collective experience across aviation, technology and the public markets will propel us forward on the next stage of our journey. Broadstone does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based. The five-year-old startup has already secured $4 … The VA-X4 is still in construction and will start test flights early next year. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. They’ve just had a splash of headlines recently. Found inside – Page 111.9 MERGER AND VERTICAL INTEGRATION . In such an environment of uncertainty , most of the world's aerospace firms are government undertakings . The majority of the exceptions are found in the USA with a handful in the other AICS . Avolon is a key partner for Vertical, having invested into its PIPE and having made a 500 aircraft conditional pre-order for Vertical's VA-X4 through its affiliate Avolon-e, 350 of which have already been placed to Brazil's Gol airline and Japan's JAL. This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. Found inside – Page 1563A DIAGNOSTIC STUDY OF VERTICAL FLUXES IN CUMULUS CLOUDS USING MODEL OUTPUT DATA M. J. Weissbluth and William R. Cotton in ... ON THE MERGER OF TWO SMALL CONVECTIVE RADAR ECHOES Bernice Ackerman and Patrick C. Kennedy In Deutscher ... Robert Miller, Graeme Paton. Found inside – Page 269MOFCOM expected the HHI of market concentration to be 7,158 post-merger, which would mean an increase of HHI by ... transaction would reduce competition in the aerospace markets for AC power generation and leave the merged entity ... Found inside – Page 19Thereafter , the relative importance of horizontal and vertical mergers Major Merger Movements in the United ... aerospace , and movement is its conglomerate character ... virtually all of the increased larger merger activity in 1968 ... Flying taxi start-up Vertical Aerospace in $2bn SPAC merger. Found inside – Page 57Nor is any simple classification of a merger as horizontal , vertical , or conglomerate sufficient to identify the ... that Ling - Temco's acquisition of Chance Vought might substantially lessen competition in the aerospace field . While Vertical has yet to certify its aircraft, its proven track record as an This is an important topic, as a proper valuation can be the key between a successful and a failed transaction. The author, Patrick Gaughan—a noted expert in the field—takes an interdisciplinary approach. Vertical has the largest order book in the sector, it has the vision, the right business model and the right leadership team. That’s the vision of Stephen Fitzpatrick, founder and CEO of Britain’s Vertical Aerospace, which is set to raise $394 million in a merger with a blank-check New York-listed company, and who says his aircraft will be flying by the mid-2020s. Vertical Aerospace Announces Intention to become Publicly Traded Company via Merger with Broadstone Acquisition Corp. June 10, 2021 GMT. Vertical Aerospace Announces Intention to become Publicly Traded Company via Merger with Broadstone Acquisition Corp. News provided by Broadstone Acquisition Corp. The combination of a strong internal team, a network of external resources and the experience of the management team enables us to support rapid, substantial, and lasting growth. The appointments announced today build on the business’s successful transition to a rapidly scaling manufacturer of … ", Clare Barclay, CEO of Microsoft UK, said, "M12's investment in Vertical Aerospace demonstrates the market opportunity in the growing demand for urban transportation, but historically, expanding mobility hasn't been environmentally sustainable. About Broadstone Acquisition Corp. Broadstone Acquisition Corp. (NYSE: BSN) was set up by serial entrepreneurs, operators and investors, Hugh Osmond, Edward Hawkes and Marc Jonas. ", Derek Kerr, Chief Financial Officer, of American Airlines said: "Emerging technologies are critical in the race to reduce carbon emissions and we are excited to partner with Vertical to develop the next generation of electric aircraft. In June 2021, Vertical announced a SPAC merger with Broadstone Acquisition Corp (NYSE: BSN). read more. In the United States of America, American Airlines expects to work with Vertical on passenger operations and infrastructure development. The strength of the Vertical leadership team, coupled with a highly commercial approach and a clear route to market, are among the key attractions for the Broadstone investment team. Vertical Aerospace is a leading UK-headquartered engineering and aeronautical business founded in 2016 by energy tech entrepreneur Stephen Fitzpatrick to … We're doing more than just developing an aircraft, we're actually creating an industry together. Vertical Aerospace, a UK electric aircraft manufacturer, has won the backing of American Airlines, Virgin Atlantic and Microsoft in its bid to make urban air travel a reality. With projected speeds over 200mph, near silent when in flight, zero emissions and low cost per passenger mile, the VA-X4 is expected to open up urban air mobility to a whole new range of passengers and transform how we travel. Gur Kimchi is a veteran aviation and technology executive and co-founded of Amazon Prime Air, Amazon's drone delivery service. Cautionary Statement Regarding Forward-Looking Statements. The biggest challenge for Vertical is certifying its aircraft. In our assessment, Vertical has a considerable lead over competitors in this field – and has a clear business model to achieve commercialisation and significant growth. Found inside – Page 809The Commission's analysis of the consequences of the merger also involved General Electric's activities in two ... The Commission found that the horizontal, vertical, and conglomerate aspects of the merger all ran afoul of the 1997 ... Broadstone and its directors and executive officers may be deemed participants in the solicitation of proxies from Broadstone's shareholders with respect to the business combination. Vertical hires renowned test pilot as it enters next phase of development. Vertical has received conditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-order options from Virgin Atlantic and Marubeni, and in doing so, is creating multiple potential near term and actionable routes to market. Vertical Aerospace, an electric vertical takeoff and landing aircraft (eVTOL) maker backed by investors such as American Airlines, will go public … When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to shareholders of Broadstone as of a record date to be established for voting on the proposed business combination. Found inside – Page 20... mergers (i.e., between competitors) and discourage vertical mergers (i.e., between customers and suppliers). ... For example, aerospace and industrial components manufacturers Woodward Inc. and Hexcel Corp. mutually agreed to cancel ... Vertical Aerospace Announces Intention to become Publicly Traded Company via Merger with Broadstone Acquisition Corp. Jun 16, 2021 11:11 AM ET U.K. eVTOL maker Vertical Aerospace is the latest air taxi company to go public in the U.S. via a SPAC merger, following Archer and Joby. Back then, there weren't many competitors, he said, but today analysts estimate there are more than 100 companies working on rival electric Vertical Take-Off and Landing (eVOTL) aircraft. Vertical's ecosystem approach draws on R&D commitments and the commercial and manufacturing expertise of partners such as Rolls-Royce, Honeywell, GKN and Solvay alongside an in-house focus on high value-add design and proprietary technology, creating an asset-light business model with highly attractive unit economics. The biggest challenge for Vertical is certifying its aircraft, which Fitzpatrick said it is on track to do by the end of 2024, funded by new money from the merger. Vertical will be listed on the New York Stock Exchange following the combination, which is expected to close in the second half of 2021, under the ticker EVTL. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability. Over the past five years, Vertical has focused on building an experienced and senior team in the eVTOL industry who have over 1,200 combined years of experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems. Fed up with traffic jams? Certification will depend on the European Union Aviation Safety Agency (EASA). Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems. Fitzpatrick first had the idea back in 2015 when he sat for hours in 10 lanes of gridlocked traffic in Sao Paulo, Brazil. That's the vision of Stephen Fitzpatrick, founder and CEO of Britain's Vertical Aerospace, which is set to raise $394 million in a merger with a blank … June 10 (Reuters) - Vertical Aerospace, an electric vertical takeoff and landing aircraft (eVTOL) maker backed by investors such as American Airlines AAL.O, will go public through a merger with a blank-check firm in a deal valued at $2.2 billion, the company said on Thursday. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Vertical Aerospace ("Vertical"), a global aerospace and technology company that is pioneering zero-emissions aviation, announces over $200 … A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination will be included in the proxy statement/prospectus for the proposed business combination, which will be made available as noted in the above paragraph. "We're already in discussions with, for example, Heathrow Airport," he said, pointing out of his office window to potential skyport locations on rooftops. And he's not alone. Found inside – Page 212( c ) Line of commerce : Production and sale of electronic and aerospace equipment , including air weapons systems ... ( Findings and Conclusions of District Court ) The merger had no vertical effects and the horizontal effect of this ... Fed up with traffic jams? Vertical will be listed on the New York Stock Exchange following a special purpose acquisition company (SPAC) merger with Broadstone Acquisition Corp. These forward-looking statements include, without limitation, Broadstone's and Vertical's expectations with respect to future performance and anticipated financial impacts of the proposed business combination, the satisfaction of the closing conditions to the proposed business combination, and the timing of the completion of the proposed business combination. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue" and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. Fitzpatrick believes Vertical's partnerships will help it emerge as a winner. Broadstone cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. ", Dómhnal Slattery said: "I am delighted to take on the role of advisor to Stephen Fitzpatrick. See here for a complete list of exchanges and delays. Great emphasis is placed on the issue of cultural compatibility as it concerns partner selection, integration practices and venture outcomes. The book also focuses on cross-national mergers, acquisitions and joint ventures. Today's announcement brings together some of the largest and most respected technology and aeronautical businesses in the world and together we can achieve our aim of making the VA-X4 the first zero carbon aircraft that most people will fly on. ; Transaction is expected to close in … Another zero-revenue eVTOL company? … Vertical expects to work with American Airlines on passenger operations and infrastructure development in the U.S., while in the U.K., it will work with Virgin Atlantic to explore the joint venture launch of a Virgin Atlantic-branded short haul eVTOL network, including operations and infrastructure development. Broadstone's shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and documents incorporated by reference therein filed in connection with the proposed business combination, as these materials will contain important information about Vertical, Broadstone, and the proposed business combination. Winston & Strawn LLP is serving as legal advisor and Citi is serving as advisor to Broadstone. Our order with Vertical will also accelerate the inevitable commercial roll-out of zero emissions aircraft. LONDON, Nov. 2, 2021 /PRNewswire/ -- Vertical Aerospace ("Vertical"), a global aerospace and technology company that is pioneering zero-emissions aviation, today announced the appointment of two Independent Non-Executive Directors, Kathy Cassidy and Gur Kimchi, to Vertical's Board of Directors, with Dómhnal Slattery becoming an advisor to Stephen Fitzpatrick, CEO and Chairman of Vertical. In June 2021, Vertical announced a SPAC merger with Broadstone Acquisition Corp (NYSE: BSN ). That's the vision of Stephen Fitzpatrick, founder and CEO of Britain's Vertical Aerospace, which is set to raise $394 million in a … Dómhnal Slattery, CEO of Avolon, will be an advisor to Stephen Fitzpatrick, CEO and Chairman of Vertical. That's the vision of Stephen Fitzpatrick, founder and CEO of Britain's Vertical Aerospace, which is set to raise $394 million (roughly Rs.

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