Aerion, which designs supersonic planes, is in talks to go public through a merger with Altitude Acquisition, according to people with knowledge of the matter.
The companies are discussing a deal that would value the combined firm at up to $3 billion, said the people, who asked to not be identified because the matter isn’t public. A deal could be announced as soon as this month, the people said.
The talks could still fall apart and end without an agreement, they said.
Altitude Acquisition rose 13 per cent to $12.07 at 10.22 am in New York, giving the company a market value of about $453 million.
A spokesperson for Aerion, based in Reno, Nevada, declined to comment. A representative for Altitude Acquisition didn’t immediately respond to a request for comment.
Aviation giant Boeing announced a partnership with Aerion in 2019, along with a significant investment in the company, according to a statement at the time.
Aerion had planned to finalise the design of its first supersonic business jet model last year, according to its website. Manufacture of the AS2 will start in 2023 with plans for it to be in service in 2027.
Altitude Acquisition, a special purpose acquisition company, or SPAC, raised $300m in an initial public offering in December to pursue acquisitions in travel-related businesses, its prospectus shows. Its sponsors have since filed for two more SPAC listings seeking to raise a combined $550m, according to filings.
Major matches on Manic Monday
Andy Murray (GBR) v Benoit Paire (FRA)
Grigor Dimitrov (BGR) v Roger Federer (SUI)
Rafael Nadal (ESP) v Gilles Muller (LUX)
Adrian Mannarino (FRA) Novak Djokovic (SRB)
Origin
Dan Brown
Doubleday
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
The rules of the road keeping cyclists safe
Cyclists must wear a helmet, arm and knee pads
Have a white front-light and a back red-light on their bike
They must place a number plate with reflective light to the back of the bike to alert road-users
Avoid carrying weights that could cause the bike to lose balance
They must cycle on designated lanes and areas and ride safe on pavements to avoid bumping into pedestrians
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
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World Cricket League Division 2
In Windhoek, Namibia - Top two teams qualify for the World Cup Qualifier in Zimbabwe, which starts on March 4.
UAE fixtures
Thursday February 8, v Kenya; Friday February 9, v Canada; Sunday February 11, v Nepal; Monday February 12, v Oman; Wednesday February 14, v Namibia; Thursday February 15, final
UAE currency: the story behind the money in your pockets
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
