BRIEF-Vertical Aerospace Announces Intention To Become Publicly Traded Co

Reuters
11 Jun 2021

June 10 (Reuters) - Broadstone Acquisition Corp :

* VERTICAL AEROSPACE ANNOUNCES INTENTION TO BECOME PUBLICLY TRADED COMPANY VIA MERGER WITH BROADSTONE ACQUISITION CORP.

* BROADSTONE ACQUISITION CORP - TRANSACTION WILL RESULT IN VERTICAL BECOMING PUBLICLY-TRADED CO, WITH PRO FORMA EQUITY VALUE OF APPROXIMATELY $2.2 BILLION

* BROADSTONE ACQUISITION CORP - TRANSACTION EXPECTED TO RESULT IN GROSS PROCEEDS OF $394 MILLION

* BROADSTONE ACQUISITION CORP - MICROSOFT'S M12, AMERICAN AIRLINES, AVOLON, HONEYWELL, AND ROLLS-ROYCE ALL INVESTING VIA PIPE

* BROADSTONE ACQUISITION CORP - TRANSACTION VALUES COMBINED CO AT PRO FORMA ENTERPRISE VALUE OF APPROXIMATELY $1.84 BILLION

* BROADSTONE ACQUISITION CORP - VERTICAL WILL BE LISTED ON NYSE FOLLOWING COMBINATION, UNDER TICKER EVTL

* BROADSTONE ACQUISITION CORP - AMERICAN AIRLINES HAS AGREED TO PRE-ORDER, UP TO 250 AIRCRAFT, & AN OPTION TO ORDER AN ADDITIONAL 100 AIRCRAFT

* BROADSTONE ACQUISITION CORP - AVOLON HAS AGREED TO PRE-ORDER UP TO 310 AIRCRAFT WITH AN OPTION FOR A FURTHER 190 AIRCRAFT

* BROADSTONE ACQUISITION CORP - VIRGIN ATLANTIC HAS AN OPTION TO PURCHASE BETWEEN 50 AND 150 AIRCRAFT

* BROADSTONE ACQUISITION CORP - AMERICAN AIRLINES, VIRGIN ATLANTIC, AVOLON PROVIDING INDIVIDUAL EXPERTISE THROUGH PARTNERSHIPS WITH VERTICAL

* BROADSTONE ACQUISITION CORP - HONEYWELL, ROLLS-ROYCE, GKN AND SOLVAY ALL PROVIDING INDIVIDUAL EXPERTISE THROUGH PARTNERSHIPS WITH VERTICAL

* BROADSTONE ACQUISITION CORP - VIRGIN ATLANTIC AND VERTICAL TO EXPLORE JV TO DEVELOP LAUNCH OF VIRGIN ATLANTIC BRANDED SHORT HAUL EVTOL NETWORK IN UK

* BROADSTONE ACQUISITION CORP - COMMERCIAL OPERATIONS PLANNED FOR 2024 ONCE CERTIFIED UNDER EASA

* BROADSTONE ACQUISITION CORP - VERTICAL INTENDS TO BE CERTIFIED TO SAME SAFETY STANDARDS AS LARGE COMMERCIAL AIRCRAFT

* BROADSTONE ACQUISITION CORP - VERTICAL HAS CONDITIONAL PRE-ORDERS FOR UP TO $4BN

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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