BLADE Urban Air Mobility’s Business Combination with Experience Investment Corp

Proskauer represented BLADE Urban Air Mobility, Inc. in the transaction.

BLADE Urban Air Mobility, Inc., a technology-powered air mobility company, executed its business combination with Experience Investment Corp. (NASDAQ: EXPC, “EIC”), a NASDAQ listed special purpose acquisition company sponsored by KSL Capital Partners. The business combination closed on May 7, 2021.

Transaction proceeds of approximately $365 million are expected to be utilized to enable an acceleration of Blade’s acquisition and route expansion strategy and transition to electric vertical takeoff and landing (eVTOL) aircraft. The combined company’s common stock will begin trading on the NASDAQ under the ticker symbol “BLDE” on May 10, 2021 and is the first publicly traded urban air mobility company.

The Proskauer team supporting the deal was led by Harris Mufson (Partner, Labor & Employment; Picture), Lauren Boglivi (Partner, M&A), Daniel Forman (Partner, Capital Markets), Karen Garnett (Partner, Capital Markets), Seth Safra (Partner, Employee Benefits & Executive Compensation), Richard Corn (Partner, Tax), Janicelynn Asamoto Park (Associate, Tax), Steven Leiser-Mitchell (Associate, Corporate), Elena Roeva (Associate, Corporate), Michael Saliba (Associate, Corporate) and Oleg Zakatov (Associate, Employee Benefits & Executive Compensation).

Involved fees earner: Steven Leiser-Mitchell – Proskauer Rose; Janicelynn Asamoto Park – Proskauer Rose; Lauren Boglivi – Proskauer Rose; Richard Corn – Proskauer Rose; Daniel Forman – Proskauer Rose; Karen Garnett – Proskauer Rose; Harris Mufson – Proskauer Rose; Elena Roeva – Proskauer Rose; Seth Safra – Proskauer Rose; Michael Saliba – Proskauer Rose; Oleg Zakatov – Proskauer Rose;

Law Firms: Proskauer Rose;

Clients: Blade Urban Air Mobility;

Author: Martina Bellini