Vertical Aerospace Prices $59M Dual-Tranche Financing at Discount to Market

summarizeSummary

Vertical Aerospace priced a $35M equity unit offering at $1.05/unit and a $24M preferred share issuance, raising ~$59M in gross proceeds at a discount to market, adding substantial dilution for existing shareholders.

check_boxKey Events · Financing and Capital Events · EVTL

• Equity Offering Priced at Discount

  33.33 million units sold at $1.05 each (unit = 1 share + 1 Tranche C warrant with $2.00 strike), raising ~$35M gross. The offering price is a 25% discount to the current $1.39 stock price.

• Preferred Share Issuance to Yorkville

  25,000 Series A Convertible Preferred Shares issued at $960 each for $24M, with a fixed conversion price of $1.26 — a 10% discount to market.

• Combined Dilution Impact

  The equity offering adds 33.3M shares (~19% of current float), and the preferred shares are convertible at $1.26, creating additional overhang. Total gross proceeds of ~$59M.

• Use of Proceeds

  Net proceeds of ~$56.55M will fund R&D, testing, manufacturing, and certification of the eVTOL aircraft, as well as general working capital.

auto_awesomeAnalysis · EVTL · Manufacturing

Vertical Aerospace priced a $35 million equity unit offering at $1.05 per unit — a discount to the current $1.39 stock price — alongside a $24 million preferred share issuance to Yorkville with a $1.26 conversion price. The combined ~$59 million in gross proceeds extends the company's cash runway but comes at the cost of significant dilution: the equity offering alone adds 33.3 million shares (roughly 19% of the current float), and the preferred shares convert at a price below market. This follows a series of dilutive financings and a going-concern warning, underscoring the company's urgent need for capital to fund eVTOL development and certification, now delayed to 2029.