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ICR Inc. handles US media surrounding UK-based Vertical Aerospace in its $2.2B SPAC deal engineered with Broadstone Acquisition to become a New York Stock Exchange-listed company.
As a leader in the electric Vertical Take-Off and Landing (eVTOL) aircraft market, Vertical’s goal is to make air travel carbon-free, personal and on-demand.
Stephen Fitzpatrick, who launched Vertical in 2016, said, “electrification will transform flying in the 21st century in the same way that jet engines did 70 years ago.”
His company has pre-orders worth $4B for 1,000 eVTOL aircraft from American Airlines and Avolon, along with a pre-order option from Virgin Atlantic.
American Airlines has agreed to work with VA on passenger operations and infrastructure development in the US. Vertical will partner with Virgin Atlantic for a VA-branded eVTOL network in the UK.
American Airlines, Microsoft, Rolls-Royce, Avolon and Honeywell have invested in Vertical.
ICR has Phil Denning and Dan McDermott working the media for Vertical, while Edelman’s Iain Dey and Raeesa Chowdhury-King represent Broadstone.
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
