Vertical Aerospace, a UK electric aviation firm, is in receipt of financing commitments of approximately $100 million from existing and new investors to support continued progress toward the certification and commercialisation of its Valo eVTOL aircraft platform.

The proposed $100 million of financing comprises three components: $40 million from Mudrick Capital Management through the combination of a recently closed $5 million draw plus a $35 million accelerated draw planned by August 2026, each under the company's existing $50 million convertible note facility, reflecting the continued commitment of Vertical's largest shareholder; $35 million equity investment from a group of existing and new investors in an underwritten offering of units, each comprising one ordinary share and one warrant, at a price of $1.05 per unit. The offering priced today and is expected to close on or about 11 August; and $25 million issuance from the company's preferred equity facility with Yorkville Advisors Global, due to settle imminently.

Stuart Simpson, CEO of Vertical Aerospace, says: “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. The support, reflected in these financings via new investors alongside further commitments from existing investors, demonstrates strong confidence in Vertical's market position and progress, providing near-term flexibility to execute the next phase of our plan."

The additional capital is intended to provide greater financial resilience and support continued progress towards several important programme priorities, including: Critical Design Review, which establishes the certifiable design baseline for its aircraft and enables the build and test of certification-conforming aircraft; the opening of Vertical's expanded Energy Centre to triple battery production capacity; development of future production capabilities, including the planned establishment of production facilities in the UK; and the retrofit of the company's third prototype aircraft for hybrid-electric flight testing in the first half of 2027.

The financings follow a period of significant operational and commercial momentum for Vertical. Earlier this year, the company became only the second company globally to complete a piloted transition flight in a full-scale tiltrotor eVTOL, a landmark achievement on the path to certification.

That momentum continued at the Farnborough International Airshow, where Vertical completed five successful demonstration flights in five days, including the first public piloted eVTOL transition flights at the show, showcasing how its aircraft will operate in real-world environments in front of more than 140,000 trade and public visitors.

The company also recently announced: advanced discussions with the UK Government for up to £10 million ($13.5 million) of support for its first full-scale production facilities and further support for next-generation charging technologies; the expansion of its defence activities through a partnership with Near Earth Autonomy, a proven provider of autonomous flight systems; confirmed interest from the UK Ministry of Defence in its hybrid-electric and autonomous capabilities; and joining VERTI-GO, a Honeywell Aerospace-led European initiative to accelerate the integration of eVTOL aircraft into European airspace.

Mudrick Capital's component of the proposed financing, set forth in a non-binding agreement in principle, remains subject to the negotiation and execution of definitive agreements. There can be no assurance that the company and Mudrick Capital will enter into definitive agreements or that this component of the transaction will be consummated on the terms currently contemplated, or at all. Any description of the Mudrick Capital proposed financing or its terms contained in this press release are intended only as a summary.