German Flying Taxi Startup Eyes SPAC Merger: Report

Qell Acquisition

Lilium, a German startup that’s making an all-electric vertical takeoff and landing passenger jet, is in talks to go public through a merger with Qell Acquisition, Bloomberg reports, citing people with knowledge of the matter.

Qell has reportedly begun discussions to raise new equity for a transaction to value the combined entity at more than $2 billion, said one of the people, who requested anonymity. Representatives of Qell and Lilium declined to comment.

Munich-based Lilium, co-founded in 2015 by engineers Daniel Wiegand, Sebastian Born, Matthias Meiner and Patrick Nathen, became a unicorn last year after raising $35 million from Baillie Gifford & Co. Read more.

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