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The rise and fall of Aerion
Yuvan Kumar
28th May 2021, 9:35
It all began in 2004, when Texan billionaire Robert Bass decided to re-commercialise supersonic aerial travel by launching Aerion Supersonic. By 2021, it had a backlog of $11.2bn – or 93 orders – for its AS2 supersonic jet. And soon after announcing the near-hypersonic AS3, a new concept, the company ground to a halt, shutting down unexpectedly last weekend.
At $120m each, the Mach 1.4 AS2 promised to connect any two points on Earth
“in three hours or less” by 2027. Industry veteran Dr Richard Tracy spearheaded the vision for supersonic business travel, alongside ex-Gulfstream and Rolls-Royce engineer, Michael Hinderberger and others.
Exclusive: Wejo to go public; deal values auto data startup at $800 million - sources
By Ben Klayman and Paul Lienert
Reuters
DETROIT (Reuters) - Auto data startup Wejo on Friday will announce plans to go public through a reverse merger with blank-check company Virtuoso Acquisition Corp in a deal that values the British company at $800 million including debt, people familiar with the plans said.
The deal, to be announced after the stock market closes, will raise $330 million in proceeds for Wejo, said the sources, who asked not to be identified. They said that includes $230 million from Special-Purpose Acquisition Company (SPAC) Virtuoso and another $100 million referred to as Private Investment in Public Equity (PIPE).