The maker of the autonomous Chaparral is in advanced talks to go public through a blank-cheque merger valuing the combined company at about $1bn.
The SPAC, declared dead more than once over the past few years, keeps finding new uses, and the latest is a cargo drone.
Elroy Air, a California startup that wants to replace some delivery trucks with autonomous aircraft, is in advanced talks to go public through a merger with a blank-cheque vehicle.
The deal would create a company with an enterprise value of about $1bn, and could be announced as soon as that day.
The counterparty is Columbus Circle Capital Corp. II, a special-purpose acquisition company led and backed by the management team of Inflection Point Asset Management.
