Full Press Release Details
Experience Investment Corp. Stockholders Approve
Business Combination with Blade Urban Air Mobility
New York, NY (May 5, 2021) - Experience Investment Corp. (NASDAQ:
EXPC) today announced that its stockholders approved all proposals related to the previously announced business combination (the "Business
Combination") with Blade Urban Air Mobility, Inc. ("Blade") at a special meeting of stockholders held today. A Form
8-K disclosing the full voting results is expected to be filed with the Securities and Exchange Commission.
The closing of the Business Combination is anticipated to occur on
or about May 7, 2021. Following closing, the combined holding company will change its legal name to Blade Air Mobility, Inc. and will
continue to do business as Blade Urban Air Mobility. Its class A common stock and warrants will trade on Nasdaq under the ticker symbols
"BLDE" and "BLDEW", respectively.
Blade expects to receive approximately $365 million in gross proceeds,
after giving effect to minimal shareholder redemptions, at the time of the Business Combination, which includes $125 million in expected
gross proceeds from a fully committed private placement closing concurrently.
About Experience Investment Corp.
Experience Investment Corp. ("EIC") is a special purpose
acquisition company sponsored by an affiliate of KSL Capital Partners and formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
For more information, please visit experienceinvestmentcorp.com
About KSL Capital Partners
KSL Capital Partners, LLC is a private equity firm specializing in
premier travel and leisure enterprises in five primary sectors: hospitality, recreation, clubs, real estate, and travel services. Since
2005, KSL has raised approximately $13 billion of capital across both debt and equity funds.
For more information, please visit kslcapital.com
Blade is a technology-powered urban air mobility platform committed
to reducing travel friction by providing cost-effective air transportation alternatives to some of the most congested ground routes in
the U.S. and abroad. Today, the company predominantly uses helicopters and amphibious aircraft. Its asset-light model, coupled with its
exclusive passenger terminal infrastructure, is designed to facilitate a seamless transition to Electric Vertical Aircraft ("EVA"
or "eVTOL"), enabling lower cost air mobility to the public that is both quiet and zero emissions.
For more information, visit blade.com/investors
Forward Looking Statements
This press release contains certain forward-looking statements within
the meaning of federal securities laws, including with respect to the proposed business combination of Blade and EIC. Forward-looking
statements are predictions, projections and other statements about future events that are based on current expectations and assumptions
and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the
forward-looking statements in this communication. Such factors can be found in EIC's most recent annual report on Form 10-K, subsequently
filed quarterly reports on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC's website
at www.sec.gov, and also in the Form S-4 and EIC's definitive proxy statement/prospectus relating to the Business Combination.
New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us or
the Business Combination with Blade. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only
as of the date made, and EIC and Blade undertake no obligation to update or revise the forward-looking statements, whether as a result
of new information, changes in expectations, future events or otherwise.
Phil Denning / Nora Flaherty
For Experience Investment Corp.
For KSL Capital Partners