New York, NY (May 7, 2021) – Proskauer announced today that it represented BLADE Urban Air Mobility, Inc., a technology-powered air mobility company, in 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), 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).