Helicopter-share backer books a cheap return trip

Strata Critical Medical

18/01/2023 16:44

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Jonathan Guilford
       NEW YORK, Jan 18 (Reuters Breakingviews) - Private
equity firm RedBird has taken a 5% position in Blade, adding to
the stake it bought when the Hamptons-shuttle operator went
public in a blank-check deal. Blade stock has slumped but its
revenue is growing. The SPAC rout may have thrown some babies
out with the bathwater.
    Full view will be published shortly.
    Follow @JMAGuilford on Twitter
    CONTEXT NEWS
    Private-equity firm RedBird Capital Partners has built a
stake of over 5% in short-range air-transportation company Blade
Air Mobility, the Wall Street Journal reported on Jan. 18. 
    RedBird was already an investor in Blade, participating in
the company’s merger with a special-purpose acquisition company
in 2021. RedBird took a 1% position in the company that year,
according to the report. 
 (Editing by John Foley and Amanda Gomez)
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