Dennis Muilenburg
Dennis Muilenburg, the former CEO of Boeing Co., which retired during the 737 Max crisis, is close to a blank check company, according to people with knowledge of this.
One of the people said that Muilenburg, who resigned from the board and top function of Boeing in 2019, wanted to raise about $ 200 million in a special procurement company, and asked not to be identified because the matter is private.
The people can submit the vehicle as early as next week, and will focus on finding targets in futuristic transportation.
Muilenburg could not be reached for comment.
Celebrities from the business, political and sports worlds have invaded the SPAC market since last year, in part due to the lucrative payout for driving these vehicles.
The former Boeing chief was ousted at the end of 2019 after he thwarted the planner’s response to two deadly 737 Max accidents and their aftermath. At the Aviation Titan, Muilenburg was an enthusiastic proponent of autonomous flying vehicles and the air traffic control technology that would one day enable them to turn urban commuters across congested streets.
Muilenburg appeared last month as an investor and adviser to Monarch Tractor, a Silicon Valley company developing an electric tractor that is ‘driver optional’. The engineer formed a consulting firm last year and, after about 35 years at Boeing in Chicago, works with about a dozen companies.
Read more about Muilenberg’s electric tractor bet
In crisis caught by 20-month grounding and Covid pandemic, US maker last year folded its Boeing NeXt venture capital arm. Under Muilenburg, the unit pursued joint ventures with the likes of Kitty Hawk, a futuristic aircraft manufacturer backed by Larry Page, co-founder of Alphabet Inc.