After being ousted from Boeing in 2019, former CEO Dennis Muilenburg plans to reenter the arena with a SPAC in the aviation industry. His blank-check company “New Vista Acquisition Corp.” aims to raise $200 million, issuing 20 million shares at $10 each in its IPO.
The Chicago-based company specifically targets possible acquisitions that are involved in innovative technologies within the space, defense, air mobility and logistics as well as the communication market.
Muilenburg, who was responsible for the defense and space department at Boeing before he became CEO, will be joined by other former executives and officials from Boeing, the U.S. Air Force, and the Federal Aviation Administration at this venture.
New Vista Acquisition is planned to be listed on the NASDAQ under the ticker symbol NVSAU.