Vertical Aerospace Ltd. Announces Financing Commitments of Approximately $100 Million

Vertical Aerospace Ltd. announced financing commitments of approximately $100 million to support the certification and commercialization of its Valo aircraft platform. The financing includes $40 million from Mudrick Capital Management, L.P. through a convertible note facility, a $35 million equity investment from existing and new investors, and a $25 million issuance from a preferred equity facility with Yorkville Advisors Global, L.P. This capital will support critical program priorities including the Critical Design Review, expansion of the Energy Centre, development of future production capabilities, and the retrofit of a prototype aircraft for hybrid-electric flight testing. The company also highlighted recent technical and commercial progress, including successful flight demonstrations and discussions with the UK Government for potential support. This funding aims to provide financial resilience and advance Vertical Aerospace's strategic plan.