American Airlines, Avolon, Honeywell, Rolls-Royce, 40 North and M12 have contributed to a private placement backing the transaction.
UK-based clean aircraft developer Vertical Aerospace has agreed to a reverse takeover with special purpose acquisition company Broadstone Acquisition Corp that will be backed by several corporate investors.
Air carrier American Airlines, aircraft leasing service Avolon, diversified technology producer Honeywell, aerospace manufacturer Rolls-Royce, industrial group Standard Industries’ 40 North vehicle and software provider Microsoft’s M12 unit are among the investors in a private placement supporting the deal.
The merged business will be valued at $2.2bn and will take up the…
