Mudrick Capital Moves to Reshape Vertical Aerospace Board: Plans to Remove 2 Directors, Add 5, Expand to 11
EVTL sits 33% above its 52-week low of $0.518.
Summary
Mudrick Capital, holder of 64.2% of Vertical Aerospace, disclosed plans to remove two directors, nominate five new ones, and expand the board to eleven seats — a major governance shakeup at the cash-strapped eVTOL maker.
Key Events · Ownership and Investor Activity · EVTL
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Board Overhaul Planned
Mudrick Capital intends to remove two existing MCM-nominated directors (JK Brown and Carsten Stendevad) and nominate five additional directors, expanding the board from nine to eleven seats.
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First New Director Appointed
Fabrice Bregier was appointed to the board effective September 21, 2026, following MCM's nomination on August 20, 2026.
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Control Consolidation
Mudrick Capital entities collectively hold 214,698,010 ordinary shares, representing 64.2% of the class, giving them decisive voting control.
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Strategic Alternatives on Table
MCM states it may pursue a sale of the company or its assets, changes to capital structure, and other strategic transactions to increase shareholder value.
Analysis · EVTL · Manufacturing
Mudrick Capital, which controls 64.2% of Vertical Aerospace's ordinary shares, is exercising its board-control rights under the Sixth Amended Articles to remove two existing MCM-nominated directors and install five new ones, while expanding the board from nine to eleven seats. This is a decisive consolidation of control by the distressed-debt investor at a company that has warned of going-concern uncertainty and delayed eVTOL certification to 2029. The board overhaul signals Mudrick is taking direct operational governance control, likely to drive a strategic sale or restructuring. The appointment of Fabrice Bregier effective September 21, 2026, is the first concrete step in this plan.
How filings like this one have moved
In the 30 days to Oct 9, 2026, 36.7% of the 1075 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.61%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, EVTL was trading at $0.69 on NYSE in the Manufacturing sector, with a market capitalization of approximately $114.2M. The 52-week trading range was $0.52 to $7.33. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.