Skyworks Aeronautics Announces $100 Million Investment Commitment from GEM as Company Seeks to Go Public in Coming Months
Skyworks Aeronautics Corp. today announced a $100 million investment commitment from GEM Global Yield LLC SCS ("GEM"), the Luxembourg based private alternative investment group. Under the agreement, GEM will provide Skyworks Aeronautics with a Share Subscription Facility of up to $100 million for a 36-month term following a public listing of the Skyworks Aeronautics common stock. Skyworks Aeronautics will control the timing and maximum amount of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of Skyworks Aeronautics shares, Skyworks Aeronautics will issue warrants to GEM to purchase up to 3% of the common stock of the company.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210205005052/en/
Skyworks Aeronautics VertiJet™ (Photo: Business Wire)
"Skyworks Aeronautics looks forward to working with GEM as we continue to work to bring our cutting-edge aircraft to market," stated Mr. Steve Stevanovich, Skyworks Aeronautics Co-Executive Director. “We think that GEM is an excellent partner that believes in our vision and understands the promise and potential of our technology.”
Skyworks Aeronautics will use the funds to move forward with the commercialization of its cutting-edge gyroplane aircraft, including the eGyro™ electric air taxi geared towards urban air mobility and the 400 mph VertiJet™ VTOL aircraft that competes directly with helicopters, but at a much higher speed, longer range and lower operating cost.
Brig. General (Ret.) John Michel, Skyworks Aeronautics Co-Executive Director added, “With our highly experienced leadership and technical team and strong intellectual property portfolio, this commitment by GEM positions Skyworks Aeronautics to become the first company in the world to commercialize gyrocraft at scale. Be it providing affordable vertical lift alternatives to developing nations, progressive electric aircraft capabilities for air carriers, or game-changing vertical takeoff and landing platforms, Skyworks Aeronautics is now poised to be a transformative force in the rapidly evolving air mobility industry.”
This agreement comes on the heels of Skyworks Aeronautics recent announcement of its electric aircraft collaboration with Mobius.energy to produce the state-of-the-art electric gyroplane, the eGyro™. The Skyworks Aeronautics eGyro™ has been designed to leverage the fundamental safety and exceptional performance advantages of a gyroplane to create an eVTOL system that provides an unparalleled practical, affordable, and scalable approach to intra and inter-city passenger and air cargo transport. With a proprietary autorotating main rotor design delivering exceptional performance and unprecedented safety, the eGyro™ overcomes a key limitation of many of today’s existing eVTOL system concepts. Mobius.energy developed an advanced battery module architecture optimized for electric aircraft.
Amongst other senior and technical staff, Skyworks Aeronautics has also recently added Mr. Barry Jones as its Director of Aviation Operations and Chief Pilot. Mr. Jones, a retired British Army Air Corps Captain, is a highly decorated aviator and instructor in numerous aircraft. He has also served as the Chairman of the British Rotorcraft Association (the organization that governs Gyro flying in the UK), has successfully worked with aviation regulators across Europe on certification matters, and has spent the last decade working in the field of Gyro Research & Development, successfully developing and launching several significant gyroplane enhancing concepts. He is leading Skyworks Aeronautics certification efforts. The full senior leadership team can be viewed on the following link: https://www.skyworks-aero.com/#section-teamone
About Skyworks Aeronautics
Skyworks Aeronautics is the world leader in gyronautics, the study and design of sustained autorotative flight represented by the company's gyroplane technology. Skyworks Aeronautics has more than 40 patents with several more underway, all obtained in an effort to radically change not only the way gyroplanes are perceived, but also the way they are utilized. From mass personnel transportation, agriculture, defense, and border protection to literally changing the economies of developing nations, Skyworks Aeronautics' goal is to change the nature of vertical flight. For more information about the company, its products, and individual members of the Skyworks Aeronautics team, visit www.Skyworks-Aero.com
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York, and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 400 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com
Steve G. Stevanovich
+1 312 809 1076
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Wipro to acquire Capco, a global management and technology consultancy to banking and financial services industry, for $ 1.45 billion4.3.2021 15:40:00 EET | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has signed an agreement to acquire Capco, a global management and technology consultancy providing digital, consulting and technology services to financial institutions in the Americas, Europe and the Asia Pacific. London-headquartered Capco’s clients include many marquee names in the global financial services industry. Over the past 20 years, the company has worked closely with business leaders, including Boards and C-Suites in the banking, capital markets, wealth, asset management and insurance sectors and is widely acknowledged for its deep domain and consulting expertise, risk and regulatory offerings and thought leadership around key industry technology challenges and opportunities. In addition, Capco services clients in the energy and commodities trading sector. Capco has an experienced executive team and over 5,000
Hopin Raises $400 Million to Scale Innovation for Hybrid Experiences4.3.2021 15:30:00 EET | Press release
Hopin, a leading virtual events provider, announced today that it has raised $400M in Series C funding co-led by new investors Andreessen Horowitz and General Catalyst, and existing investor IVP, with participation from returning investors Coatue, DFJ Growth, Northzone, Salesforce Ventures and Tiger Global. The funding follows Hopin’s $125 million Series B funding announced in November 2020. Since then, Hopin has added 30,000 customers including Poshmark, American Express, Hewlett Packard, The Financial Times, and YMCA. Since February of last year, Hopin has raised more than $565 million. Johnny Boufarhat, CEO and Founder of Hopin said: “We are creating a portfolio of products to build the future of live video collaboration and remote community. As we’ve seen, the importance of providing unparalleled virtual and hybrid event experiences has never been greater and this latest funding is a reflection of how critical it is as brands look for ways to connect with people and avenues of grow
New Research Reveals More CROs Taking Action to Meet Urgent Need for Faster Clinical Trials4.3.2021 15:03:00 EET | Press release
Contract research organizations (CROs) are making significant advancements to modernize and speed clinical trials, according to the latest Veeva Unified Clinical Operations Survey: Annual CRO Report. COVID-19 dramatically accelerated the need to execute faster and with greater precision than ever before. Findings from Veeva Systems (NYSE: VEEV) show CROs have taken decisive action to streamline trial execution by adopting new digital strategies and technologies that eliminate information siloes, replace manual processes, and enable trial collaboration. Nearly all CROs surveyed (90%) have major initiatives underway to unify clinical operations, a lynchpin to faster, more efficient research. The efforts to unify extended beyond CROs’ internal systems and processes. Streamlining collaboration and information sharing with research sites and sponsors was consistently cited by CROs as one of the highest priority areas overall and a key driver for the modernization efforts underway. In additi
DeepGreen, Developer of the World's Largest Estimated Resource of Battery Metals for EVs, to Combine with Sustainable Opportunities Acquisition Corporation4.3.2021 15:00:00 EET | Press release
DeepGreen Metals Inc., a developer of lower-impact battery metals from unattached seafloor polymetallic nodules, today announced that it has entered into a definitive business combination agreement with Sustainable Opportunities Acquisition Corporation (NYSE: SOAC), a special purpose acquisition company with a dedicated ESG focus and deep operational and capital market capabilities in the energy and resource sectors. The transaction represents a pro forma equity value of US$2.9 billion (assuming no redemptions) for the combined company, which will be renamed “TMC the metals company Inc.” and operate as The Metals Company upon closing. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005510/en/ Responsibly Sourcing Battery Metals to Address Looming Critical Shortage for EV Supply Chain DeepGreen is developing a new, scalable source of EV battery metals in the form of polymetallic nodules found unattached on the seafloor i
The Estée Lauder Companies Announces New Equity and Engagement Center of Excellence4.3.2021 15:00:00 EET | Press release
The Estée Lauder Companies (NYSE:EL) announced today that it has established a new Equity and Engagement Center of Excellence (COE). The creation of this new capability underscores The Estée Lauder Companies’ (ELC) core values and commitments to build greater equity and representation within every aspect of its business, from its employees to its consumers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005218/en/ Nicole Monson Appointed to Lead COE as Senior Vice President, Equity and Engagement (Photo: Business Wire) The Equity and Engagement COE will be led by Nicole Monson, who has been appointed Senior Vice President, Equity and Engagement. Nicole will report directly to Michael O’Hare, Executive Vice President, Global Human Resources. The events of 2020 and the movement around racial equality have placed a necessary spotlight on every company’s responsibility to take action to advance equal representation, advoca
Allurion Technologies Announces 5 Million Pound Challenge in Celebration of World Obesity Day4.3.2021 15:00:00 EET | Press release
Allurion Technologies, a pioneering leader in the development of innovative, scalable and trusted weight loss experiences, today announced two major milestones for its Allurion Weight Loss Program with the completion of a 1 million pound challenge launched just last year and the launch of a 5 million pound challenge in celebration of World Obesity Day. The Allurion™ Weight Loss Program features the Elipse ® Gastric Balloon—the world’s first and only procedureless™ medical device for weight loss—and the Allurion ® Virtual Care Suite of wearables and telehealth and AI-powered software that provide real-time insights to both patients and providers. In clinical trials, the Allurion Program leads to approximately 30 pounds (15 kilograms) of weight loss in just four months. “We are proud to announce the completion of our 1 million pound challenge, especially in a year where the COVID-19 pandemic and quarantines have led to weight gain and underscored the health risks posed by obesity,” said
H.I.G. Europe to Acquire KPMG’s UK Restructuring Business, Rebranded to Interpath Advisory4.3.2021 14:59:00 EET | Press release
H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with over €35 billion of equity capital under management, is pleased to announce that one of its affiliates has signed a definitive agreement to acquire KPMG’s UK restructuring business, a leading provider of insolvency, financial restructuring and turnaround services in the UK and globally. Terms of the transaction, which is expected to complete in April 2021, were not disclosed. KPMG UK Restructuring is a leading multidisciplinary practice of approximately 22 partners and 528 staff located across the full breadth of the UK. The group advises companies, lenders, equity holders and a wide range of other stakeholders including Government, regulators and pension trustees to navigate through the issues associated with economic disruption and overcome financial and operational challenges. Following completion of the transaction, the business will rebrand to Interpath Advisory, becoming the largest independent rest
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom