Blade Urban Air Mobility and Experience Investment today announced a definitive business combination agreement. Terms call for Blade to receive$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.
Blade is a helicopter taxi platform, utilizing a technology-powered, asset light model.
Pending shareholder approvals, the combined company would list on the Nasdaq. The deal is expected to close during the first half of 2021.
The transaction gives Blade an estimated pro forma equity value of $825 million. Read more.
