Vertical Aerospace has finalized a funding agreement with Mudrick Capital Management, securing $50 million in new investments and reducing its debt by $130 million through equity conversion. This agreement enhances the company’s balance sheet and supports its Flightpath 2030 strategy, focusing on advancing the VX4 electric vertical take-off and landing aircraft toward certification.
The deal includes $25 million in immediate funding and an additional $25 million backstop, providing flexibility for future growth. The conversion of $130 million of debt into equity at a fixed price further stabilizes the company’s financial position. Remaining loans have been extended to 2028, ensuring Vertical has the resources to navigate its certification program and commercialize the VX4.
The VX4 aircraft represents a new era in sustainable urban aviation. With zero operating emissions and advanced proprietary technology, it aims to revolutionize air mobility. Over 1,500 pre-orders from global leaders like American Airlines and Japan Airlines demonstrate strong market confidence in the aircraft’s potential.
Vertical’s shareholders have approved governance changes to align with this funding strategy, including provisions for independent board representation and an increase in authorized share capital. These measures reinforce the company’s commitment to transparency and long-term success.
This milestone positions Vertical Aerospace as a leading innovator in the eVTOL market, paving the way for the VX4’s certification and the realization of the Flightpath 2030 vision. By combining strong financial backing and cutting-edge technology, the company is set to redefine urban air travel and sustainability in aviation.
