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Volocopter Cancels SPAC
  • 21 Dec 2021 10:47 AM
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Volocopter Cancels SPAC

Volocopter, the German eVTOL developer, has reportedly abandoned plans for a merger in a SPAC deal, according to a Nov. 26 account in the German financial outlet Finance Forward. If true, the decision would reverse a move months in the making; in March 2021, Volocopter CEO Florian Reuter said that the company was seeking to raise funds by exploring a deal to go public via an SPAC. In a Nov. 25 letter to investors obtained by Finance Forward, Volocopter executives said that it was an “extremely unfavorable” time for an SPAC transaction. Factors such as the risks associated with an SPAC and the mixed outcome of other eVTOL developers that have gone public are believed to have contributed to Volocopter’s decision.

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