Financing ·
Vertical Aerospace Ltd. entered into a non-binding term sheet for a $100 million comprehensive financing package with…
EVTWFVertical Aerospace Ltd.
Vertical Aerospace Ltd. entered into a non-binding term sheet for a $100 million comprehensive financing package with Mudrick Capital Management and Yorkville Advisors Global on August 5, 2026. The deal includes the immediate issuance of $35 million in additional Convertible Senior Secured Notes to Mudrick Capital and the issuance of $25 million in Series A convertible preferred shares to Yorkville. The transaction also involves a $35 million common equity offering at a minimum price of $1.00 per share, a reduction of the conversion price on existing notes from $3.50 to $1.30, and the repricing of employee options to $1.30. Governance changes include increasing the board size to nine directors and granting Mudrick Capital nomination rights proportional to its ownership, subject to shareholder approval by September 15, 2026. The company reported approximately £50 million ($66 million) in cash as of June 30, 2026. Vertical Aerospace Ltd. operates in the advanced air mobility industry, designing and manufacturing electric vertical takeoff and landing (eVTOL) aircraft.