German Flying-Taxi Startup Said in Talks to Merge with Qell Acquisition (QELL) SPAC - Bloomberg

March 3, 2021 3:01 PM EST

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(Updated - March 3, 2021 3:05 PM EST)

Lilium, a German startup that's making an all-electric vertical takeoff and landing passenger jet, is in talks to go public through a merger with Qell Acquisition (NASDAQ: QELL), according to Bloomberg, citing people with knowledge of the matter.

Qell has begun discussions to raise new equity for a transaction to value the combined entity at more than $2 billion.

A deal hasn't been finalized.

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