Dennis Muilenburg
Dennis Muilenburg, former executive director of Boeing Co., which gave up during the 737 Max crisis, is close to applying for a blank check company, according to people with knowledge of the matter.
Muilenburg, who resigned in 2019 from Boeing’s board and top job, plans to raise about $ 200 million in a special-purpose procurement company, said one person. asking not to be identified because the issue is private.
The vehicle could already drop next week, people said, and will focus on finding targets in futuristic transportation.
Muilenburg could not be reached for comment.
Prominent figures from the business, political and sports worlds rushed to the SPAC market last year, in part due to profitable payments for the management of these vehicles.
The former Boeing chief was fired at the end of 2019, after groping for the planner’s response to two fatal 737 Max accidents and their consequences. At the aviation titan, Muilenburg was an enthusiastic supporter of autonomous flying vehicles and air traffic control technology that would one day allow them to take urban commuters on congested streets.
Muilenburg was unveiled last month as an investor and advisor to Monarch Tractor, a Silicon Valley startup that is developing an all-electric tractor that is “optional for the driver.” The trained engineer formed a consulting business last year and works with about a dozen companies after a 35-year career at Boeing, based in Chicago.
Read more about Muilenberg’s electric tractor bet
Sunken in crisis of 20 months of grounding Max and Covid-pandemic, US manufacturer last year folded its venture capital arm Boeing NeXt. Under Muilenburg, the unit sought joint ventures with Kitty Hawk, a futuristic aircraft manufacturer backed by Alphabet Inc. co-founder Larry Page.