Electric aircraft company Vertical Aerospace plans to go public

Electric aircraft company Vertical Aerospace plans to go public

Vertical Aerospace, a British electric aircraft manufacturer, announced last Thursday that it intends to go public via a $2.2 billion SPAC deal with Broadstone Acquisition.

SPAC mergers, once the hottest method for private companies to go public, have seen a slump in their performances recently. Both pre-merger and post-merger SPACs have fallen in market cap within the last few months. Yet Vertical Aerospace viewed the process as an opportunity now that the frenzy surrounding blank-check mergers has somewhat subsided.

[Read more: Yahoo U: What are SPACs?]