Blade to become publicly listed on NASDAQ through EXPC
Blade to Be Listed on Nasdaq, Creating the Only Publicly Traded Global Urban Air Mobility Company
Blade is a global urban air mobility platform, utilizing a technology-powered, asset light model with unrivaled brand recognition
Blade to become publicly listed on NASDAQ through a business combination with Experience Investment Corp. (NASDAQ: EXPC), a public entity sponsored by an affiliate of KSL Capital Partners, following expected transaction close in the first half of 2021
Transaction values Blade at an estimated pro forma equity value of $825 million upon consummation
Transaction to provide $400 million in gross proceeds, comprised of Experience Investment Corp.’s cash held in trust and an upsized and oversubscribed $125 million fully committed PIPE at $10.00 per share, including investment commitments from affiliates of KSL Capital Partners, Hedosophia, HG Vora Capital Management, and David Geffen, as well as original investors Barry Diller, David Zaslav and Robert W. Pittman
The capital raised will enable the Company to expand new urban air mobility routes, its network of captive passenger infrastructure, as well as its consumer-to-cockpit technology stack, accelerating its transition from use of conventional aircraft to Electric Vertical Take-Off and Landing (“eVTOL”) aircraft
Urban air mobility is expected to be a $125 billion market by 2025 and grow to $650 billion over the next decade, according to Morgan Stanley Equity Research.
businesswire.com/news/home/20201215005456/en/Blade-to-Be-Listed-on-Nasdaq-Creating-the-Only-Publicly-Traded-Global-Urban-Air-Mobility-Company
Blade is a global urban air mobility platform, utilizing a technology-powered, asset light model with unrivaled brand recognition
Blade to become publicly listed on NASDAQ through a business combination with Experience Investment Corp. (NASDAQ: EXPC), a public entity sponsored by an affiliate of KSL Capital Partners, following expected transaction close in the first half of 2021
Transaction values Blade at an estimated pro forma equity value of $825 million upon consummation
Transaction to provide $400 million in gross proceeds, comprised of Experience Investment Corp.’s cash held in trust and an upsized and oversubscribed $125 million fully committed PIPE at $10.00 per share, including investment commitments from affiliates of KSL Capital Partners, Hedosophia, HG Vora Capital Management, and David Geffen, as well as original investors Barry Diller, David Zaslav and Robert W. Pittman
The capital raised will enable the Company to expand new urban air mobility routes, its network of captive passenger infrastructure, as well as its consumer-to-cockpit technology stack, accelerating its transition from use of conventional aircraft to Electric Vertical Take-Off and Landing (“eVTOL”) aircraft
Urban air mobility is expected to be a $125 billion market by 2025 and grow to $650 billion over the next decade, according to Morgan Stanley Equity Research.
businesswire.com/news/home/20201215005456/en/Blade-to-Be-Listed-on-Nasdaq-Creating-the-Only-Publicly-Traded-Global-Urban-Air-Mobility-Company
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