Elroy Air is in advanced talks to go public via a SPAC merger valued at roughly $1 billion, as the autonomous cargo drone maker scales Chaparral production.

Elroy Air is in advanced talks to go public via a SPAC merger valued at roughly $1 billion, as the autonomous cargo drone maker scales Chaparral production.

Elroy Air, maker of the autonomous Chaparral cargo drone, is in advanced talks to go public via a SPAC merger valuing it at about $1bn.