Vertical Aerospace Announces “Closing Of USD90 Million Underwritten Public Offering”
UK-based eVTOL company, Vertical Aerospace, recently announced the closing of its underwritten public offering of USD90 million, before deducting costs, reports a press release. The amount raised had increased from an initial investment target of USD75 million.
The money attracted includes over USD60 million from new backers, as well as USD25 million from Mudrick Capital, following the signing of a funding agreement last December. This accelerates Vertical’s Flightpath 2030 strategy and includes a conversion of USD130 million of debt into equity.
The release explains, “In the Offering, Vertical sold 15 million units at USD6 per unit. Each unit comprises one ordinary share and one-half of one Tranche A warrant and one-half of one Tranche B warrant. The exercise of the warrants would generate additional proceeds of approximately USD101 million.”
Vertical intends to use the proceeds to fund its VX4 eVTOL aircraft R&D, as well as expenditures, to expand testing and certification capacities alongside general working capital.
Vertical’s 2025 operational targets include:-
: Fly full-scale piloted wingborne and transition.
: Build and fly its third full-scale VX4 prototype.
: Fly full-scale piloted flights demonstrating real-world use cases.
: Earn additional DOA privileges including Flight Conditions privilege granted by the CAA.
: Initiate certification aircraft production with long-range parts purchasing.
: Strengthen its operating model and shift its approach to focus on execution.

Stuart Simpson
Stuart Simpson, CEO of Vertical Aerospace, commented, “This funding represents a major milestone for our business as we advance our Flightpath 2030 strategy.”
Dómhnal Slattery, the recently appointed new Chairman of Vertical, added, “Strong investor demand and the success of this upsized public offering are indicators of investors’ confidence in Vertical’s vision and our ability to lead the eVTOL sector by the end of the decade. Securing access to capital is critical to our success.”
Further details of the funding raise includes:-
: Total number of ordinary shares outstanding following the closing of this offer is now 84,552,721 (excluding ordinary shares held in treasury).
: Cash and equivalents as of December 31st 2024 is USD28 million.
: Gross proceeds of raise USD90 million, net proceeds USD84 million.
: Vertical currently plans to release its FY 2024 results on March 11th.
For more information
https://vertical-aerospace.com/
(Top image: Vertical’s VX4)
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