Vertical Aerospace tumbles after launching $60 mln stock offering

Vertical Aerospace

09/07/2025 12:37

** US-listed shares of air-taxi maker Vertical Aerospace EVTL.N tumble 26.2% premarket to $5.13 on planned equity raise

** UK-based firm late Tues commenced $60 mln stock offering

** Deutsche Bank and William Blair are jt bookrunners

** Co intends to use net offering proceeds to fund R&D for continued development of its VX4 aircraft, expand testing and certification capacacities

** In early May, co expanded its partnership with Honeywell HON.O to take VX4 to certification

** With ~84.7 mln shares outstanding as of Jul 1, per the prospectus, EVTL has about $590 mln market cap

** Through Tues close, shares had risen ~140% over the past three months, leaving them down ~45% YTD

** 4 of 6 analysts rate EVTL "buy", 1 rates "hold" and 1 recommends "sell" and median PT is $13.50, LSEG data reflects

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

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