Encounter Financial commitment Corp. Stockholders Approve Small business Mix with Blade City Air Mobility

• Transaction proceeds of somewhere around $365 million, following giving influence to nominal redemptions, allows an acceleration of Blade’s acquisition and route growth tactic

Working experience Investment Corp. (NASDAQ: EXPC) currently announced that its stockholders authorized all proposals relevant to the beforehand declared business mixture (the “Small business Mix”) with Blade City Air Mobility, Inc. (“Blade”) at a exclusive assembly of stockholders held nowadays. A Sort 8-K disclosing the total voting benefits is expected to be submitted with the Securities and Exchange Commission.

The closing of the Business enterprise Blend is anticipated to occur on or about May perhaps 7, 2021. Next closing, the merged keeping organization will transform its legal name to Blade Air Mobility, Inc. and will continue on to do business enterprise as Blade City Air Mobility. Its class A typical stock and warrants will trade on Nasdaq under the ticker symbols “BLDE” and “BLDEW”, respectively.

Blade expects to receive somewhere around $365 million in gross proceeds, after supplying effect to minimum shareholder redemptions, at the time of the Company Blend, which incorporates $125 million in expected gross proceeds from a totally dedicated personal placement closing concurrently.

About Practical experience Expense Corp.

Experience Expense Corp. (“EIC”) is a unique function acquisition organization sponsored by an affiliate of KSL Capital Associates and fashioned for the intent of effecting a merger, money inventory trade, asset acquisition, stock invest in, reorganization or related company mixture with one particular or far more enterprises.

For much more data, make sure you stop by experienceinvestmentcorp.com

About KSL Cash Associates

KSL Capital Partners, LLC is a personal equity business specializing in premier travel and leisure enterprises in five main sectors: hospitality, recreation, golf equipment, genuine estate, and journey products and services. Considering the fact that 2005, KSL has lifted close to $13 billion of funds across each financial debt and fairness funds.

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For a lot more information and facts, remember to pay a visit to kslcapital.com

About Blade

Blade is a technology-driven city air mobility system committed to cutting down travel friction by furnishing price tag-powerful air transportation options to some of the most congested floor routes in the U.S. and overseas. Nowadays, the organization predominantly makes use of helicopters and amphibious aircraft. Its asset-light-weight product, coupled with its distinctive passenger terminal infrastructure, is made to facilitate a seamless changeover to Electric powered Vertical Aircraft (“EVA” or “eVTOL”), enabling lessen price tag air mobility to the general public that is both quiet and zero emissions.

For much more info, stop by blade.com/buyers

Forward Hunting Statements

This press release has specified ahead-seeking statements in the that means of federal securities regulations, including with respect to the proposed small business blend of Blade and EIC. Ahead-on the lookout statements are predictions, projections and other statements about long term situations that are based mostly on latest expectations and assumptions and, as a end result, are matter to dangers and uncertainties. Numerous aspects could trigger genuine potential situations to differ materially from the forward-looking statements in this conversation. This kind of components can be identified in EIC’s most recent annual report on Kind 10-K, subsequently filed quarterly reviews on Variety 10-Q and present-day reviews on Kind 8-K, which are obtainable, totally free of demand, at the SEC’s web page at www.sec.gov, and also in the Type S-4 and EIC’s definitive proxy statement/prospectus relating to the Company Mixture. New threats and uncertainties come up from time to time, and it is impossible for us to predict these functions or how they might have an impact on us or the Business Blend with Blade. You are cautioned not to location undue reliance upon any ahead-hunting statements, which converse only as of the date made, and EIC and Blade undertake no obligation to update or revise the ahead-wanting statements, no matter if as a final result of new info, changes in anticipations, upcoming gatherings or normally.

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Contacts

For BLADE
Phil Denning / Nora Flaherty
[email protected]

For Working experience Expenditure Corp.
Maureen Richardson
[email protected]

For KSL Funds Partners
Maureen Richardson
[email protected]