{"success":true,"data":{"pressRelease":{"id":"114056","rtpr_id":"nBw45cgcNa","ticker":"EVTL","exchange":"NYSE","all_tickers":["EVTL","M000"],"title":"Vertical Aerospace Announces Financing Commitments of Approximately $100 Million to Advance Certification and Commercialisation","author":"Business Wire","published_at":"2026-08-10T12:34:00.113Z","article_body":"Vertical Aerospace Announces Financing Commitments of Approximately $100\nMillion to Advance Certification and Commercialisation\n\nInvestments strengthen financial position following major technical and\ncommercial milestones, historic public flight demonstrations and growing\ngovernment and partner support\n\nVertical Aerospace (\"Vertical\" or the \"Company\") (NYSE: EVTL), a global\naerospace and technology company pioneering electric aviation, today announced\nfinancing commitments of approximately $100 million from existing and new\ninvestors to support continued progress toward the certification and\ncommercialisation of its Valo aircraft platform.\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20260810370289/en/\n(https://www.businesswire.com/news/home/20260810370289/en/)\n\nFinancing follows a strong period of momentum for Vertical Aerospace,\nincluding the first ever eVTOL demonstration at Farnborough International\nAirshow\n\nFinancing Highlights\n\nThe proposed $100 million of financing comprises three components:\n\n\n * $40 million from Mudrick Capital Management, L.P. (“Mudrick Capital”)\nthrough the combination of a recently closed $5 million draw plus a $35\nmillion accelerated draw planned by August 12, 2026, each under the\nCompany’s existing $50 million convertible note facility, reflecting the\ncontinued commitment of Vertical’s largest shareholder.\n\n * $35 million equity investment from a group of existing and new investors in an\nunderwritten offering of units, each comprising one ordinary share and one\nwarrant, at a price of $1.05 per unit. The offering priced today and is\nexpected to close on or about August 11, 2026.\n\n * $25 million issuance from the Company’s preferred equity facility with\nYorkville Advisors Global, L.P., which will settle today.\n\nStuart Simpson, CEO of Vertical Aerospace, said:\n\n“Following the momentum generated by our progress over the last six months,\nincluding our piloted transition demonstrations at Farnborough, we are focused\non converting operational progress and partner engagement into continued\nadvancement of our certification and commercialisation strategy. The support,\nreflected in these financings via new investors alongside further commitments\nfrom existing investors, demonstrates strong confidence in Vertical’s market\nposition and progress, providing near-term flexibility to execute the next\nphase of our plan.”\n\nThe additional capital is intended to provide greater financial resilience and\nsupport continued progress towards several important programme priorities,\nincluding:\n\n\n * Critical Design Review, which establishes the certifiable design baseline for\nits aircraft and enables the build and test of certification-conforming\naircraft.\n\n * The opening of Vertical’s expanded Energy Centre to triple battery\nproduction capacity.\n\n * Development of future production capabilities, including the planned\nestablishment of production facilities in the UK.\n\n * The retrofit of the Company’s third prototype aircraft for hybrid-electric\nflight testing in the first half of 2027.\n\nInvestment Follows Significant Technical and Commercial Progress\n\nThe financings follow a period of significant operational and commercial\nmomentum for Vertical. Earlier this year, the Company became only the second\ncompany globally to complete a piloted transition flight in a full-scale\ntiltrotor eVTOL, a landmark achievement on the path to certification.\n\nThat momentum continued at the Farnborough International Airshow, where\nVertical completed five successful demonstration flights in five days,\nincluding the first public piloted eVTOL transition flights at the show,\nshowcasing how its aircraft will operate in real-world environments in front\nof more than 140,000 trade and public visitors.\n\nThe Company also recently announced:\n\n\n * Advanced discussions with the UK Government for up to £10 million ($13.5\nmillion) of support for its first full-scale production facilities and further\nsupport for next-generation charging technologies.\n\n * The expansion of its defence activities through a partnership with Near Earth\nAutonomy, a proven provider of autonomous flight systems.\n\n * Confirmed interest from the UK Ministry of Defence in its hybrid-electric and\nautonomous capabilities.\n\n * Joining VERTI-GO, a Honeywell Aerospace-led European initiative to accelerate\nthe integration of eVTOL aircraft into European airspace.\n\nAgreement in Principle with Mudrick Capital\n\nMudrick Capital’s component of the proposed financing, set forth in a\nnon-binding agreement in principle, remains subject to the negotiation and\nexecution of definitive agreements. There can be no assurance that the Company\nand Mudrick Capital will enter into definitive agreements or that this\ncomponent of the transaction will be consummated on the terms currently\ncontemplated, or at all. Any description of the Mudrick Capital proposed\nfinancing or its terms contained in this press release are intended only as a\nsummary.\n\nAdditional information regarding the financing components, including a\ndiscussion of terms and final terms of the executed equity and preferred\nequity offerings, can be found in the Reports on Form 6-K filed by the Company\nwith the U.S. Securities and Exchange Commission on August 10, 2026. The\nCompany will provide updated cash and liquidity guidance alongside its\nhalf-year results on August 13, 2026. To access the webcast, visit\nVertical’s Investor Relations website: Vertical Aerospace Group Ltd. -\nVertical Aerospace Q2’26 Business Update Call\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestor.vertical-aerospace.com%2Fevents-and-presentations%2Fevents%2Fevent-details%2F2026%2FVertical-Aerospace-Q226-Business-Update-Call%2Fdefault.aspx&esheet=54586596&newsitemid=20260810370289&lan=en-US&anchor=Vertical+Aerospace+Group+Ltd.+-+Vertical+Aerospace+Q2%26%238217%3B26+Business+Update+Call&index=1&md5=3117aa0ce6abed3afca266c2a7292ef1)\n. If unable to attend the webcast, to listen by phone, please dial +1\n833-461-5787 or +44 808 196 8935; meeting ID: 222 109 240.\n\nA replay of the webcast will be available on the Company’s website following\nthe event.\n\nAbout Vertical Aerospace\n\nVertical Aerospace is a global aerospace and technology company pioneering\nelectric aviation. Vertical is creating a safer, cleaner, and quieter way to\ntravel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and\nLanding (eVTOL) aircraft, with zero operating emissions. Vertical is also\ndeveloping a hybrid-electric variant, offering increased range and mission\nflexibility to meet the evolving needs of the advanced air mobility market.\nVertical combines partnerships with leading aerospace companies, including\nHoneywell, Syensqo and Sonaca, with its own proprietary battery and propeller\ntechnology to develop the world's most advanced and safest eVTOL.\n\nVertical has c.1,500 pre-orders of Valo, with customers across four\ncontinents, including American Airlines, Avolon, Bristow, GOL and Japan\nAirlines. Certain customer obligations are expected to be fulfilled via\nthird-party agreements. Headquartered in Bristol, UK, Vertical's experienced\nleadership team comes from top-tier aerospace and automotive companies such as\nRolls-Royce, Airbus, GM, and Leonardo. Together, they have previously\ncertified and supported over 30 different civil and military aircraft and\npropulsion systems.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. Any express or implied\nstatements contained in this press release that are not statements of\nhistorical fact may be deemed to be forward-looking statements, including,\nwithout limitation, statements regarding anticipated benefits and terms of\neach of the financings described herein, including the expected participants\nand timing of closing for the equity investment and execution of definitive\ndocumentation for the proposed financing with Mudrick Capital, and the\nCompany's anticipated use of proceeds; the Company's path to and expected\ntiming of certification milestones including CDR; the Company's strategy to\naccess capital in a capital-efficient and minimally dilutive manner;\nanticipated improvements in the Company's equity valuation; the UK Government\npackage to support the Company’s planned global full-production sites in UK,\nwhich remains subject to the completion of legal, subsidy control, due\ndiligence and ministerial approval processes; the interest from the Ministry\nof Defence in the defence applications for Vertical’s eVTOL, hybrid-electric\nand autonomous capabilities; the non-binding Memorandum of Understanding\nbetween Vertical and Near Earth Autonomy and its anticipated benefits, the\nintegration of autonomous flight systems with Valo; the design and manufacture\nof our aircraft and the hybrid-electric variant, certification and the\ncommercialisation of our aircraft and our ability to achieve regulatory\ncertification of our aircraft product on any particular timeline or at all,\nthe features and capabilities of the aircraft, business strategy and plans and\nobjectives of management for future operations, including the building and\ntesting of our prototype aircrafts on timelines projected, completion of the\npiloted test programme phases, selection of suppliers, the differential\nstrategy compared to our peer group; expectations surrounding pre-orders and\ncommitments; as well as statements that include the words “expect,”\n“intend,” “plan,” “believe,” “project,” “forecast,”\n“estimate,” “may,” “should,” “anticipate,” “will,”\n“aim,” “potential,” “continue,” “is/are likely to” and similar\nstatements of a future or forward-looking nature. These forward-looking\nstatements reflect our current views with respect to future events and are not\na guarantee of future performance. Actual outcomes may differ materially from\nthe information contained in the forward-looking statements as a result of a\nnumber of factors, including, without limitation, the important factors\ndiscussed under the caption “Risk Factors” in the Company’s Annual\nReport on Form 20-F filed with the U.S. Securities and Exchange Commission\n(“SEC”) on March 24, 2026, as such factors may be updated from time to\ntime in the Company’s other filings with the SEC. Any forward-looking\nstatements contained in this press release speak only as of the date hereof\nand accordingly undue reliance should not be placed on such statements. The\nCompany disclaims any obligation or undertaking to update or revise any\nforward-looking statements contained in this press release, whether as a\nresult of new information, future events or otherwise, other than to the\nextent required by applicable law.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260810370289/en/\n(https://www.businesswire.com/news/home/20260810370289/en/)\n\nFor more information:\n\nVertical Aerospace Media: \n\nJustin Bates, Head of Communications\n\njustin.bates@vertical-aerospace.com \n(mailto:justin.bates@vertical-aerospace.com) \n+44 7878 357 463\n\nVertical Aerospace Investor Relations: \n\nGillian Levine, Investor Relations Lead\n\ngillian.levine@vertical-aerospace.com \n(mailto:gillian.levine@vertical-aerospace.com) \n+1 248 470 8732\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw45cgcNa","title":"Vertical Aerospace Announces Financing Commitments of Approximately $100 Million to Advance Certification and Commercialisation","author":"Business Wire","ticker":"EVTL","created":"2026-08-10T12:34:00.113Z","tickers":["EVTL","M000"],"exchange":"NYSE","article_body":"Vertical Aerospace Announces Financing Commitments of Approximately $100\nMillion to Advance Certification and Commercialisation\n\nInvestments strengthen financial position following major technical and\ncommercial milestones, historic public flight demonstrations and growing\ngovernment and partner support\n\nVertical Aerospace (\"Vertical\" or the \"Company\") (NYSE: EVTL), a global\naerospace and technology company pioneering electric aviation, today announced\nfinancing commitments of approximately $100 million from existing and new\ninvestors to support continued progress toward the certification and\ncommercialisation of its Valo aircraft platform.\n\nThis press release features multimedia. View the full release here:\nhttps://www.businesswire.com/news/home/20260810370289/en/\n(https://www.businesswire.com/news/home/20260810370289/en/)\n\nFinancing follows a strong period of momentum for Vertical Aerospace,\nincluding the first ever eVTOL demonstration at Farnborough International\nAirshow\n\nFinancing Highlights\n\nThe proposed $100 million of financing comprises three components:\n\n\n * $40 million from Mudrick Capital Management, L.P. (“Mudrick Capital”)\nthrough the combination of a recently closed $5 million draw plus a $35\nmillion accelerated draw planned by August 12, 2026, each under the\nCompany’s existing $50 million convertible note facility, reflecting the\ncontinued commitment of Vertical’s largest shareholder.\n\n * $35 million equity investment from a group of existing and new investors in an\nunderwritten offering of units, each comprising one ordinary share and one\nwarrant, at a price of $1.05 per unit. The offering priced today and is\nexpected to close on or about August 11, 2026.\n\n * $25 million issuance from the Company’s preferred equity facility with\nYorkville Advisors Global, L.P., which will settle today.\n\nStuart Simpson, CEO of Vertical Aerospace, said:\n\n“Following the momentum generated by our progress over the last six months,\nincluding our piloted transition demonstrations at Farnborough, we are focused\non converting operational progress and partner engagement into continued\nadvancement of our certification and commercialisation strategy. The support,\nreflected in these financings via new investors alongside further commitments\nfrom existing investors, demonstrates strong confidence in Vertical’s market\nposition and progress, providing near-term flexibility to execute the next\nphase of our plan.”\n\nThe additional capital is intended to provide greater financial resilience and\nsupport continued progress towards several important programme priorities,\nincluding:\n\n\n * Critical Design Review, which establishes the certifiable design baseline for\nits aircraft and enables the build and test of certification-conforming\naircraft.\n\n * The opening of Vertical’s expanded Energy Centre to triple battery\nproduction capacity.\n\n * Development of future production capabilities, including the planned\nestablishment of production facilities in the UK.\n\n * The retrofit of the Company’s third prototype aircraft for hybrid-electric\nflight testing in the first half of 2027.\n\nInvestment Follows Significant Technical and Commercial Progress\n\nThe financings follow a period of significant operational and commercial\nmomentum for Vertical. Earlier this year, the Company became only the second\ncompany globally to complete a piloted transition flight in a full-scale\ntiltrotor eVTOL, a landmark achievement on the path to certification.\n\nThat momentum continued at the Farnborough International Airshow, where\nVertical completed five successful demonstration flights in five days,\nincluding the first public piloted eVTOL transition flights at the show,\nshowcasing how its aircraft will operate in real-world environments in front\nof more than 140,000 trade and public visitors.\n\nThe Company also recently announced:\n\n\n * Advanced discussions with the UK Government for up to £10 million ($13.5\nmillion) of support for its first full-scale production facilities and further\nsupport for next-generation charging technologies.\n\n * The expansion of its defence activities through a partnership with Near Earth\nAutonomy, a proven provider of autonomous flight systems.\n\n * Confirmed interest from the UK Ministry of Defence in its hybrid-electric and\nautonomous capabilities.\n\n * Joining VERTI-GO, a Honeywell Aerospace-led European initiative to accelerate\nthe integration of eVTOL aircraft into European airspace.\n\nAgreement in Principle with Mudrick Capital\n\nMudrick Capital’s component of the proposed financing, set forth in a\nnon-binding agreement in principle, remains subject to the negotiation and\nexecution of definitive agreements. There can be no assurance that the Company\nand Mudrick Capital will enter into definitive agreements or that this\ncomponent of the transaction will be consummated on the terms currently\ncontemplated, or at all. Any description of the Mudrick Capital proposed\nfinancing or its terms contained in this press release are intended only as a\nsummary.\n\nAdditional information regarding the financing components, including a\ndiscussion of terms and final terms of the executed equity and preferred\nequity offerings, can be found in the Reports on Form 6-K filed by the Company\nwith the U.S. Securities and Exchange Commission on August 10, 2026. The\nCompany will provide updated cash and liquidity guidance alongside its\nhalf-year results on August 13, 2026. To access the webcast, visit\nVertical’s Investor Relations website: Vertical Aerospace Group Ltd. -\nVertical Aerospace Q2’26 Business Update Call\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestor.vertical-aerospace.com%2Fevents-and-presentations%2Fevents%2Fevent-details%2F2026%2FVertical-Aerospace-Q226-Business-Update-Call%2Fdefault.aspx&esheet=54586596&newsitemid=20260810370289&lan=en-US&anchor=Vertical+Aerospace+Group+Ltd.+-+Vertical+Aerospace+Q2%26%238217%3B26+Business+Update+Call&index=1&md5=3117aa0ce6abed3afca266c2a7292ef1)\n. If unable to attend the webcast, to listen by phone, please dial +1\n833-461-5787 or +44 808 196 8935; meeting ID: 222 109 240.\n\nA replay of the webcast will be available on the Company’s website following\nthe event.\n\nAbout Vertical Aerospace\n\nVertical Aerospace is a global aerospace and technology company pioneering\nelectric aviation. Vertical is creating a safer, cleaner, and quieter way to\ntravel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and\nLanding (eVTOL) aircraft, with zero operating emissions. Vertical is also\ndeveloping a hybrid-electric variant, offering increased range and mission\nflexibility to meet the evolving needs of the advanced air mobility market.\nVertical combines partnerships with leading aerospace companies, including\nHoneywell, Syensqo and Sonaca, with its own proprietary battery and propeller\ntechnology to develop the world's most advanced and safest eVTOL.\n\nVertical has c.1,500 pre-orders of Valo, with customers across four\ncontinents, including American Airlines, Avolon, Bristow, GOL and Japan\nAirlines. Certain customer obligations are expected to be fulfilled via\nthird-party agreements. Headquartered in Bristol, UK, Vertical's experienced\nleadership team comes from top-tier aerospace and automotive companies such as\nRolls-Royce, Airbus, GM, and Leonardo. Together, they have previously\ncertified and supported over 30 different civil and military aircraft and\npropulsion systems.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe Private Securities Litigation Reform Act of 1995. Any express or implied\nstatements contained in this press release that are not statements of\nhistorical fact may be deemed to be forward-looking statements, including,\nwithout limitation, statements regarding anticipated benefits and terms of\neach of the financings described herein, including the expected participants\nand timing of closing for the equity investment and execution of definitive\ndocumentation for the proposed financing with Mudrick Capital, and the\nCompany's anticipated use of proceeds; the Company's path to and expected\ntiming of certification milestones including CDR; the Company's strategy to\naccess capital in a capital-efficient and minimally dilutive manner;\nanticipated improvements in the Company's equity valuation; the UK Government\npackage to support the Company’s planned global full-production sites in UK,\nwhich remains subject to the completion of legal, subsidy control, due\ndiligence and ministerial approval processes; the interest from the Ministry\nof Defence in the defence applications for Vertical’s eVTOL, hybrid-electric\nand autonomous capabilities; the non-binding Memorandum of Understanding\nbetween Vertical and Near Earth Autonomy and its anticipated benefits, the\nintegration of autonomous flight systems with Valo; the design and manufacture\nof our aircraft and the hybrid-electric variant, certification and the\ncommercialisation of our aircraft and our ability to achieve regulatory\ncertification of our aircraft product on any particular timeline or at all,\nthe features and capabilities of the aircraft, business strategy and plans and\nobjectives of management for future operations, including the building and\ntesting of our prototype aircrafts on timelines projected, completion of the\npiloted test programme phases, selection of suppliers, the differential\nstrategy compared to our peer group; expectations surrounding pre-orders and\ncommitments; as well as statements that include the words “expect,”\n“intend,” “plan,” “believe,” “project,” “forecast,”\n“estimate,” “may,” “should,” “anticipate,” “will,”\n“aim,” “potential,” “continue,” “is/are likely to” and similar\nstatements of a future or forward-looking nature. These forward-looking\nstatements reflect our current views with respect to future events and are not\na guarantee of future performance. Actual outcomes may differ materially from\nthe information contained in the forward-looking statements as a result of a\nnumber of factors, including, without limitation, the important factors\ndiscussed under the caption “Risk Factors” in the Company’s Annual\nReport on Form 20-F filed with the U.S. Securities and Exchange Commission\n(“SEC”) on March 24, 2026, as such factors may be updated from time to\ntime in the Company’s other filings with the SEC. Any forward-looking\nstatements contained in this press release speak only as of the date hereof\nand accordingly undue reliance should not be placed on such statements. The\nCompany disclaims any obligation or undertaking to update or revise any\nforward-looking statements contained in this press release, whether as a\nresult of new information, future events or otherwise, other than to the\nextent required by applicable law.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260810370289/en/\n(https://www.businesswire.com/news/home/20260810370289/en/)\n\nFor more information:\n\nVertical Aerospace Media: \n\nJustin Bates, Head of Communications\n\njustin.bates@vertical-aerospace.com \n(mailto:justin.bates@vertical-aerospace.com) \n+44 7878 357 463\n\nVertical Aerospace Investor Relations: \n\nGillian Levine, Investor Relations Lead\n\ngillian.levine@vertical-aerospace.com \n(mailto:gillian.levine@vertical-aerospace.com) \n+1 248 470 8732\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-10T12:34:00.180067533Z","server_sent_at_ms":1786365240180},"received_at":"2026-08-10T12:34:00.231Z","source_url":"https://www.businesswire.com/news/home/20260810370289/en/"},"analysis":{"id":"103057","press_release_id":"114056","analysis_json":{"industry":{"label":"Aerospace & Defense","sector":"Industrials"},"redFlags":["$40 million Mudrick Capital component is subject to a non-binding agreement in principle","Equity offering priced at $1.05 per unit suggests low share price valuation"],"eventType":"offering","narrative":"Vertical Aerospace announced approximately $100 million in financing commitments to support the certification and commercialization of its Valo eVTOL aircraft.\n\nThe financing structure includes a $35 million equity offering priced at $1.05 per unit, a $25 million preferred equity issuance, and a $40 million commitment from Mudrick Capital through its existing convertible note facility.\n\nCapital will be directed toward the Critical Design Review, expansion of battery production capacity, and development of hybrid-electric flight capabilities, pending definitive agreements for the Mudrick component.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Lifeline financing secured for certification path, though large tranche remains conditional."},"keyFigures":{"dealValueUsd":100000000,"offeringPrice":1.05,"customDimensions":{"uk_gov_support_usd":13500000,"equity_offering_amount":35000000,"preferred_equity_issuance":25000000,"mudrick_capital_commitment":40000000}},"quotedText":"Following the momentum generated by our progress over the last six months, including our piloted transition demonstrations at Farnborough, we are focused on converting operational progress and partner engagement into continued advancement of our certification and commercialisation strategy.","namedEntities":{"people":[{"name":"Stuart Simpson","role":"CEO"}],"products":["Valo"],"companies":[{"name":"Vertical 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