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4 stories mentioning EVTLUpdated 8d ago

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Wire

Vertical Aerospace Reports $100 Million Funding Commitments

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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Wire

Vertical Aerospace in Talks for British Production Facility Funding

Vertical Aerospace (EVTL) said Monday it is in advanced talks with the British government regarding a financial package to build its first full-scale manufacturing and battery plants in the United Kingdom.The proposed deal provides a new grant of up to $13.5 million to finalize the local site selection before the end of the year, the company said.The agreement would increase the overall direct government funding for the business to around $64 million, and is projected to create 700 direct jobs by 2030, Vertical Aerospace said.Shares of the company were up over 1% in Tuesday premarket activity.Price: $1.63, Change: $+0.03, Percent Change: +1.87%

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Wire

Vertical Aerospace to Conduct Public Demonstration Flights at Farnborough Airshow

Vertical Aerospace (EVTL) said Friday it plans to conduct public electric vertical take-off and landing, or eVTOL, demonstration flights at the Farnborough International Airshow from July 20-24.The company said the demonstration follows the UK Civil Aviation Authority's expansion of its Permit to Fly, allowing public demonstrations away from its Flight Test Centre at Cotswold Airport.Price: $1.49, Change: $+0.04, Percent Change: +2.76%

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Research

Cantor Fitzgerald Downgrades Vertical Aerospace to Neutral From Overweight, Price Target is $8

Vertical Aerospace (EVTL) has an average rating of overweight and mean price target of $12.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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