Vertical Aerospace lands ~$100M to push Valo eVTOL toward certification
What's the deal? Vertical Aerospace (NYSE: EVTL) announced financing commitments of approximately $100 million from existing and new investors to support certification and commercialisation of its Valo electric vertical take-off and landing aircraft.
How it breaks down: The package comprises $40 million from Mudrick Capital ManagementDealroom has a profile for this one. Try Dealroom → through a recently closed $5 million draw and a planned $35 million accelerated draw under Vertical's existing convertible note facility; a $35 million underwritten unit offering of ordinary shares and warrants; and a $25 million issuance from Yorkville Advisors GlobalDealroom has a profile for this one. Try Dealroom →'s preferred equity facility. The Mudrick component remains subject to definitive agreements.
What's the endgame? The capital will support Vertical's Critical Design Review, an expanded Energy Centre intended to triple battery production capacity, planned UK production facilities and a retrofit of its third prototype for hybrid-electric flight testing in the first half of 2027.
Why now? The financing follows Vertical's piloted transition demonstrations at the Farnborough International Airshow, where it completed five flights in five days, including public piloted eVTOL transition flights. The company is also in advanced discussions with the UK GovernmentDealroom has a profile for this one. Try Dealroom → for up to £10 million ($13.5 million) of additional support, and has expanded defence work through a partnership with Near Earth Autonomy.
The signal: The financing combines convertible debt, underwritten equity and preferred equity as Vertical moves towards certification and commercialisation of Valo.
Read more: AP News
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