Corporate ActionAug 10, 2026, 07:57 AM
Vertical Aerospace Raises $35M Equity, $24M Preferred
AI Summary
Vertical Aerospace Ltd. announced two capital raises: a registered direct equity offering of approximately $35 million and the issuance of $24 million in Series A Convertible Preferred Shares. The equity offering involved units priced at $1.05, yielding estimated net proceeds of $32.55 million. The preferred shares were issued to Yorkville at $960 per share, with a fixed conversion price of $1.26. The company intends to use the combined net proceeds to fund research and development, expand testing, manufacturing, and certification capacities, and for general working capital.
Key Highlights
- Priced a registered direct equity offering of approximately $35 million.
- Equity offering units priced at $1.05, comprising one ordinary share and one Tranche C warrant.
- Estimated net proceeds from the equity offering are $32.55 million.
- Issued 25,000 Series A Convertible Preferred Shares to Yorkville for $24 million.
- Preferred shares issued at $960.00 per share, with a fixed conversion price of $1.26.
- Net proceeds from both offerings will fund R&D, testing, manufacturing, and certification capacities.
- Funds also allocated for general working capital and other corporate purposes.
Price Impact
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