Blade Urban Air Mobility completed its business combination with Experience Investment, a SPAC sponsored by KSL Capital Partners.
The combined holding company will change its legal name to Blade Air Mobility, and Blade Urban Air Mobility will be its wholly owned, operating subsidiary. Common stock and warrants begin trading today on the Nasdaq under BLDE and BLDEW, respectively.
Announced in December, terms call for Blade to receive transaction proceeds of approximately $365 million, comprised of Experience Investment Corp.’s cash held in trust and an upsized and oversubscribed $125 million fully committed PIPE.
In New York, Blade offers continuous service between all three Manhattan BLADE Lounges and JFK, Newark, and LaGuardia airports for $195/seat, according to the company website. Ground transportation between airport helipads and all commercial airline terminals is included. Read more.
