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Experience Investment Corp (NASDAQ: EXPC).
The company’s helicopters fly people in and out of U.S. city centers. The four key targets for Blade are short-distance flights of 60 to 100 miles, airport flights between New York airports, transporting human organs in the northeast U.S. and international joint ventures.
The company had revenue of $33 million in 2019 with 10 scheduled flight routes. The company expects revenue to hit $402 million in 2024 with 28 expected flight routes.
In 2025, the company plans to launch its eVTOL electric vertical takeoff and landing aircraft. Revenue for 2025 is expected to hit $601 million and begin ramping up with the additional flying product.
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Another space-related SPAC deal was announced Wednesday morning, with space mobility company AST & Science LLC announcing a merger.
The SPAC Deal: AST announced it s merging with
New Providence Acquisition Corp (NASDAQ: NPA).
The deal is being done at a post-transaction enterprise valuation of $1.4 billion. Investors in the PIPE include Rakuten,
Vodafone Group (NASDAQ: VOD), Samsung,
American Tower Corporation (NYSE: AMT) and
UBS Group (NYSE: UBS).
The merger is expected to close in the first quarter of 2021, with shares trading under the new ticker ASTS on the Nasdaq.
Existing shareholders of New Providence Acquisition will own 16% of the company. AST founder Abel Avellan will own 43% of the new company.