Urban air mobility provider Blade signed a definitive agreement to be acquired by special purpose acquisition company Experience Investment and publicly listed on Nasdaq. Anticipated to close in the first half of 2021, the transaction is expected to result in $400 million in gross proceeds that Blade said will enable it to expand its urban air mobility routes, build up its passenger infrastructure, and accelerate plans to transition from helicopters to electrical vertical takeoff and landing (eVTOL) aircraft.
Blade currently has four primary transportation models: short-distance commuter flights of between 60 and 100 miles; flights between all New York-area airports and dedicated lounges in Manhattan heliports (suspended during the pandemic); flights to transport human organs; and flights in international markets through joint ventures, including India.
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