Qell Acquisition Corp.
QELLU
NASDAQ Capital Market10.03
USD
+0.02
- -
CIK
0001821171
ISIN
KYG7307X1218
Return %
Stock
S&P500
1Y
- -
18.21
3Y
- -
64.38
5Y
-1.28
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Barry L. Engle II
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 505 Montgomery Street San Francisco CA United States of America
- IPO Date
- Sep 11, 2020
- CIK
- 0001821171
- Website
- qellspac.com
- Similar Companies
- Business
- Qell Acquisition Corp is a special purpose acquisition company (SPAC) founded in 2020 and headquartered in San Francisco, California, focusing on investments in next-generation mobility, transportation, and sustainable industrial technology sectors. The company targets high-growth businesses in these industries, leveraging deep expertise in automotive, commercial vehicle, and alternative energy markets. Qell's core business is to identify and complete a business combination with one or more companies that align with its strategic objectives. A major recent development for Qell Acquisition Corp is its business combination with Lilium GmbH, a developer of electric vertical takeoff and landing (eVTOL) jets focused on regional electric air mobility. This transaction, completed in 2021, brought Lilium public through Qell, with Lilium becoming a wholly-owned subsidiary post-merger. Lilium develops and plans to commercialize its 7-Seater Lilium Jet, targeting sustainable high-speed regional transportation with planned commercial operations starting in 2024. The merger valued the combined entity at approximately $3.3 billion and raised around $584 million in gross proceeds including investments from strategic and financial partners such as BlackRock, Tencent, and Honeywell. The business combination marked a significant strategic expansion for Qell into the electric air transportation industry. Qell Acquisition Corp’s operations include facilitating the public listing of innovative companies primarily in next-gen mobility and sustainable tech, with Lilium as its principal operating business since the merger. The company's involvement includes advancing the commercial launch and certification of Lilium's electric aircraft, supported by the capital raised through the merger. The business combination significantly shifted Qell's profile from a blank check company to an operating entity focused on accelerating the electrification and decarbonization of regional air transportation markets across the US and Europe. Key corporate leadership includes CEO Barry Engle, and the company benefits from governance and strategic advisory input involving experienced aerospace and mobility industry figures. Through its strategic merger and capital raise, Qell Acquisition Corp is positioned to drive innovation and expansion in electric vertical flight and sustainable transport infrastructure on a global scale. This transformation and expansion are the latest major changes propelling Qell from a SPAC to an active player in the regional electric mobility sector.
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