Experience Investment Corp. Stockholders Approve Business Combination with Blade Urban Air Mobility
Summary
Its class A common stock and warrants will trade on Nasdaq under the ticker symbols “BLDE” and “BLDEW”, respectively. Blade expects to receive approximately $365 million in gross proceeds, after giving effect to minimal shareholder redemptions, at the time of the Business Combination, which includes $125 million in expected gross proceeds from a fully committed private placement closing concurrently. Experience Investment Corp. (“EIC”) is a special purpose acquisition company sponsored by an affiliate of KSL Capital Partners and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Its asset-light model, coupled with its exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft ("EVA" or “eVTOL”), enabling lower cost air mobility to the public that is both quiet and zero emissions. This press release contains certain forward-looking statements within the meaning of federal securities laws, including with respect to the proposed business combination of Blade and EIC.