Former Boeing CEO’s blank check company raises $240M for future aerospace deal

▤ Summary

The IPO comes a little more than a year after Boeing fired Muilenburg amid controversy over his handling of the company’s 737 MAX crisis. Many of Boeing’s efforts in that market have been put on hold due to the financial impacts of the 737 MAX crisis and the coronavirus pandemic. New Vista, which has Muilenburg as chairman and CEO, says it will focus on businesses operating in the space, defense and communications industries, as well as advanced air mobility and logistics. Just this month, a California-based rocket startup called Astra announced a $2.1 billion merger deal with Holicity, a SPAC created by Seattle-area telecom pioneer Craig McCaw. McCaw recently filed papers for another SPAC called Colicity, valued at $275 million.

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