#spac deal Tech News.
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RoboticsThe Next Webabout 5 hours ago
Cargo drone startup Elroy Air nears an $800m SPAC dealElroy Air, a California cargo drone startup, is in advanced talks to go public through a merger with a blank-check vehicle valued at about $1bn. The SPAC deal could be announced soon, with Elroy Air's Chaparral drone valued at $800m. The drone can carry 300 pounds over 300 miles, serving as a middle-mile delivery solution. Elroy Air has a backlog of 1,500 preorders from FedEx and Bristow Group, with potential military contracts.
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