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The Netflix of video gamers Super League Gaming Inc. SLGG +30%
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March 4, 2021
According to Bloomberg, Boeing-backed Aerion is in talks with Altitude Acquisition Corp (ALTU), SPAC for a listing according to people familiar with the matter. The two companies are discussing a deal that could value the combined company at up to $3 billion. People that shared this information asked to remain identified since the deal is not public yet. The deal could be announced as early as this month if successful.
Aerion designs and manufactures supersonic planes with a commitment to address climate change. On January 21, Aerion introduced a new era of commercial supersonic travel with its breaking ground on a state-of-the-art global HQ for its business jet, AS2. The Aerion Park is based in Melbourne, Florida next to the Orlando Melbourne International Airport. It will produce 300 AS2 jets said Tom Vice, Chairman President and CEO of the company.
He told MailOnline Travel: ‘Aerion Park will be a fully integrated campus for aerospace design, research and manufacturing. We will have all the main elements in place to build the entire aircraft onsite as well as engineering flight test headquarters, allowing us to test the AS2 direct from the site and in the surrounding airspace. Our next major milestone is to progress the AS2 to production in 2023, begin flight testing in 2025 and enter into service in 2027. All the pieces of the puzzle are falling into place on the schedule we need.’
The Park is serving as a research, design, production and support of Aerion’s supersonic aircraft and is the global hub of sustainable supersonic transportation.
Aerion is not the only player in the supersonic sector. Other U.S. start-ups like Boom Supersonic and Spike Aerospace are also working to bring back supersonic passenger travel. However, Aerion remains the first one to bring it back after 52 years.
Tom Vice commented “’I do believe Aerion is the leader. We welcome any endeavors which support a reintroduction of supersonic flight, but given the proven design, industry team of supply partners, the future production site, and investment backing supporting our company, we fully expect to be the first supersonic aircraft to enter commercial service in 51 years and the world’s first supersonic business aircraft.
We firmly believe that speed and care for our environment do not need to be mutually exclusive and with the first certified aircraft to run on 100 percent synthetic/carbon captured fuel – part of our commitment to being carbon neutral from flight one – we believe the AS2 will charter a new course for the future of air travel”.
In 2019, aviation leader Boeing Co (BA) announced a partnership with Aerion and a significant investment in the company.
Altitude is a special purpose acquisition company, SPAC and has raised over $300 million in an initial public offering in December. The proceeds were to pursue acquisitions in travel-related businesses.
Altitude is led by chairman Gavin Issacs and chief executive Gary Teplis. Gavin Isaacs also sits on the board of DraftKings (DKNG) and was previously the CEO of Scientific Games. Moreover, Gary Teplis is the CEO of Teplis Travel.
On February 17, the stock price jumped from $10.68 to $12.10 and it is now up an additional 6% in the premarket hours. If the deal proves to be successful, the stock is expected to attract even more investors. Until further news are announced to confirm the rumors the stock price rise is driven by pure speculation.
Disclaimer – I/we have no position in any stock mentioned. I wrote this article myself, and it expresses my personal opinions. I am not receiving any compensation for it, other than FDGT Academy. I do not have or had in the past any business relationship with any company that is mentioned in the above article.
I am a stock analyst/investor with prior experience and knowledge to BSc Accounting and Finance. After completing my degree and exposure to the accounting firms I decided that the direction I should choose is towards the Investment world. I completed my masters in Investment Management where it gave me solid fundamentals to build my career on. I have examined a lot of different aspects of investment, from REITS, derivatives, currencies, bonds, equity and hedge funds. I never stopped learning about the market which is why I can analyze and write articles for FDGT community always personally opinionated. My passion are green energy and electric vehicles stocks as a whole. I also had my share of analyzing the work form home stocks that are coming to take over in the upcoming years.
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