Financing ·
Vertical Aerospace Ltd. announced financing commitments totaling approximately $100 million to support certification…
EVAWFVertical Aerospace Ltd.
Vertical Aerospace Ltd. announced financing commitments totaling approximately $100 million to support certification and commercialization of its Valo eVTOL aircraft platform. The capital comprises a $40 million convertible note draw from Mudrick Capital Management, a $35 million equity offering priced at $1.05 per unit (one ordinary share plus one warrant), and a $25 million preferred equity issuance from Yorkville Advisors Global. These funds aim to advance the Critical Design Review, expand battery production capacity, establish UK production facilities, and retrofit a prototype for hybrid-electric testing in early 2027. The company also highlighted recent technical milestones, including piloted transition flights at Farnborough, and discussions with the UK Government for up to £10 million ($13.5 million) in support. Vertical Aerospace operates in the advanced air mobility sector, developing electric vertical take-off and landing aircraft.