Vertical Aerospace Raises $50m as Part of Up to $850m Financing

Vertical Aerospace has raised $50 million in common equity as part of a comprehensive financing package totaling up to $850 million to support its electric aircraft certification milestones.

• Mudrick Capital Management and Yorkville Advisors Global partnered with the company to assemble the package
• Financing package includes access to up to $800 million through 2027
• Mudrick Capital agreed to extend convertible notes maturity to 2030
• Yorkville to buy up to $250 million in Series A Convertible Preferred Shares
• Yorkville also agreed in principle to provide an equity line of credit of up to $500 million
• Company positioned to have about $160 ...