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Vertical Aerospace Reports $100 Million Funding Commitments

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Vertical Aerospace (EVTL) reported Monday about $100 million financing commitments from investors to support the certification and commercialization of its Valo aircraft platform.

The proposed financing includes $40 million from Mudrick Capital through a convertible note facility, a $35 million underwritten equity offering slated to close Tuesday, and a $25 million preferred equity facility with Yorkville Advisors, the firm said.

Shares of the company were down over 32% in morning trading.

Price: $0.92, Change: $-0.44, Percent Change: -32.50%

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