Vertical Aerospace bounces on $800 mln financing

Vertical Aerospace

30/03/2026 13:19

** US-listed shares of air-taxi maker Vertical Aerospace EVTL.N up 10.7% at $2.28 premarket after it enters agreement for up to $800 mln comprehensive financing package

** EVTL shares had fallen prior six sessions, shedding ~44% to record low close of $2.06 on Fri

** UK-based firm early Mon says Mudrick Capital Management to provide up to $50 mln convertible notes facility, according to the SEC filing

** Yorkville Advisors to provide up to $250 mln convertible preferred shares facility and equity line of credit for ordinary shares of up to $500 mln

** Co intends to use proceeds from financing package to fund R&D, continued development of its aircraft, expansion of testing, manufacturing and certification capacities, among other purposes

** As of Dec 31, co had £69 mln (about $91 mln) in cash and equivalents on hand

** NY-based hedge fund Mudrick is top investor with ~54.66 mln shares of co's total ~102.3 mln ordinary shares outstanding, per LSEG

** Through Fri, US-listed shares plunged 61% YTD following 58% dive in 2025

** Of 9 analysts covering EVTL, 7 rate "strong buy" or "buy", 1 "hold" and 1 "sell"; median PT $11 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))