
Elroy Air Announces $800M Pre-Money Valuation in SPAC Merger Deal to Go Public
Elroy Air and Columbus Circle Capital Corp have signed a Business Combination Agreement (BCA) to take Elroy Air public, with a pre-money valuation of $800 million. The deal includes over $165 million in committed PIPE financing and is expected to close in Q4 2026, targeting an enterprise value of approximately $1 billion. Proceeds will fund commercial-scale production of the Chaparral heavy-lift autonomous cargo drone in partnership with Kratos Defense.
Source: Urban Air Mobility News










