Astro Aerospace sponsors SPAC, Parsec Capital Acquisitions Corp.

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Astro sponsors SPAC focused on space economy, technology and transportation industries

Dallas, TX – (Newsfile Corp. – April 21, 2021) – Astro Aerospace (OTCQB: ASDN) (“Company” or “Astro“), a world leader in electric vertical take-off and landing aerial vehicles and drones (eVTOL), today announced its sponsorship of Parsec Capital Acquisitions Corp. (“Parsec“), an emerging PSPC investing in space economy, technology and transportation companies. Last month Patricia Trompeter, CEO and board member of Parsec, was appointed to the board of directors of Parsec. ‘Astro: Better Environmentally and Economically Sustainable Solutions for the Air Vehicle Industry.

Parsec is ideally positioned with an offer of $ 50 million. The SPAC focuses on smaller mid-size targets, allowing greater freedom in asset selection. Parsec’s three target industries continue to welcome more and more innovative technologies, pushing the space economy to a valuation of $ 1 trillion by 2040, the artificial intelligence market to $ 390.9 billion by 2025 and the sustainable aviation fuel market to $ 15.3 billion by 2030.

Parsec offers a calculated and strategic approach when searching for opportunities due to its high level expertise within its management team and board of directors. CEO Patricia Trompeter’s career spans over 16 years in mergers and acquisitions and over 15 years in financial management. Her financial skills go hand in hand with the breadth of her knowledge in the aviation industry that she has acquired throughout her career, including positions at GE Capital Aircraft Services (GECAS) with the acquisition of Guinness Peat Aviation. .

Ms. Trompeter’s leadership makes Parsec part of a growing representation of PSPCs led by minority women, which according to Bloomberg, only half of the PSPCs they reviewed had women on their board.

Ms. Trompeter said: “I have always had an obsession with the aviation industry and nature travel. Astro’s vision for the future of transportation is a great inspiration for Parsec. Astro sponsorship will help us develop emerging businesses that will have a real impact on the environment and the functioning of society. Astro can fully relate to our efforts as an emerging pioneer in the growing $ 46.7 billion eVTOL aircraft market.

Parsec’s management team also includes CFO, Paul Haber, who has 25 years of experience in corporate finance and financial markets. Mr. Haber and Ms. Trompeter are also active on the PSPC Board of Directors. They are joined by a world-class council.

“Astro’s sponsorship of Parsec is a natural fit,” said Bruce Bent, CEO of Astro. “Parsec’s vision and goals are aligned with Astro’s goals, and the Parsec team brings decades of experience to successfully grow businesses while increasing shareholder value. Astro has been pleased to ‘Welcoming Ms. Trompeter to our board last month, and we couldn’t be happier to invest in a PSPC under her leadership. “

About Astro Aerospace

Astro Aerospace is the developer of the world’s most advanced eVTOL (Electric Vertical Takeoff and Landing) aerial vehicles. Our mission is to make autonomous and unmanned vehicles available to anyone, anytime and anywhere, and to transform this exciting new aircraft into a common mode of transportation. Our vision is “Flight Made Easy”.

Visit www.flyastro.com for more information.

About Parsec

Parsec Capital Acquisitions Corp. is an emerging SPAC investing in space economy, technology and transportation companies, launched in April 2021.

Parsec is ideally positioned with an offering size of $ 50 million to allow greater freedom for asset selection. Parsec’s three target industries continue to welcome more and more innovative technologies, pushing the space economy to a valuation of $ 1 trillion by 2040, the artificial intelligence market to $ 390.9 billion by 2025 and the sustainable aviation fuel market to $ 15.3 billion by 2030.

Forward-looking statements

All statements other than statements of historical fact contained in this press release are “forward-looking statements”, which can often, but not always, be identified by the use of words such as “may”, “could”, ” will “,” will probably result “,” would “,” should “,” estimate “,” plan “,” plan “,” foresee “,” intend “,” expect “,” anticipate “,” believe “,” seek “,” continue “,” target “or the negative of these or other similar expressions. These statements involve risks, uncertainties and other known and unknown factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: dependence on the Company to a key client for a substantial percentage of its revenue; the Company’s ability to complete any proposed financing, acquisition or transaction, the timing of the closing of such a proposed event, including the risks that a closing condition will not be met within the expected time frame or not at all, or that the closing of any event proposed for the financing, acquisition or transaction will not occur or if such event will increase shareholder value; the company’s ability to continue to operate; the company’s ability to attract, retain and increase the number of its customers; the company’s ability to meet certain financial and other covenants; the company has successfully implemented its growth strategy; management’s relationships with industry stakeholders; the effects of the global COVID-19 pandemic; changes in economic conditions; competition; the risks and uncertainties applicable to the activities of the Company’s subsidiaries; and other risks, uncertainties and factors. These forward-looking statements speak only as of the date hereof and the Company disclaims any obligation to update these statements, except as required by law. The Company intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1993.

This document does not constitute an offer to subscribe, buy or sell the securities mentioned herein or any other security in any jurisdiction, including the United States of America, its territories and possessions (the “ United States”). The securities mentioned in this document have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States in l ‘lack of registration or exemption from registration under the Securities Act. Act.

Investor contact
For any request contact:
Kevin McGrath
[email protected]
Astro Aerospace Ltd
320 Main Street West
Lewisville, TX 75057

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/81172



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