FutureFlight
Vertical Heading to Wall Street Soon, with Broadstone Shareholders Set To Vote on Merger
Broadstone Acquisition shareholders will meet on December 14 to vote on a proposed combination with eVTOL aircraft developer Vertical Aerospace, leading to a New York Stock Exchange listing.
Vertical VA-X4 eVTOL
Vertical Aerospace's VA-X4 eVTOL aircraft is set to be operated by airlines including American and Virgin Atlantic, as well as helicopter group Bristow. (Image: Vertical Aerospace)

Shareholders in Broadstone Acquisition Corp. are set to vote on a proposed business combination with eVTOL aircraft developer Vertical Aerospace in a virtual meeting on December 14. The anticipated approval, which is backed by the special purpose acquisition company’s board, should lead to a New York Stock Exchange listing for the merged enterprise soon after, under the trading symbols EVTL and EVTLW.

The planned merger and Wall Street listing were announced on June 10 and Broadstone made its 8-K filing with the Securities and Exchange Commission on December 2. Earlier this year, UK-based Vertical said it expected the deal to value the combined company at between $1.8 billion and $2.2 billion based on a $10 share price for the public investment in private equity (PIPE), generating gross proceeds of $394 million.