Vertical Aerospace outlined a plan to raise USD 60 million in new equity, alongside USD 35 million of additional Convertible Secured Notes from Mudrick.
Yorkville to buy USD 25 million of Series A Convertible Preferred Shares, convertible into ordinary shares under an amended Certificate of Designations.
The company plans to market about USD 35 million of newly issued ordinary shares at a minimum price of USD 1 per share, with investor selection coordinated with Mudrick.
Convertible Secured Notes conversion terms are to be reset to a fixed USD 1.3 per ordinary share for both existing notes and the new USD 35 million tranche.
Closing is targeted by Aug. 12, 2026, subject to the Yorkville preferred issuance completing and related documentation being executed.
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