Vertical Aerospace today announced financing commitments of approximately USD100 million from existing and new investors to support continued progress toward the certification and commercialisation of its Valo aircraft platform.
According to the company there are three components to the financing arrangements. USD 40 million will come from Mudrick Capital Management through the combination of a recently closed USD5 million draw plus a USD35 million accelerated draw planned by August 12, 2026, each under the Company’s existing USD50 million convertible note facility, “reflecting the continued commitment of Vertical’s largest shareholder”.
There is a USD 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 USD1.05 per unit. The offering priced today and is expected to close on or about August 11, 2026. And there is a USD25 million issuance from the Company’s preferred equity facility with Yorkville Advisors Global, L.P., which will settle today.
According to the company, 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.
- The retrofit of the Company’s third prototype aircraft for hybrid-electric flight testing in the first half of 2027
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(Image: Vertical Aersospace)