Air-Taxi Maker Vertical Signs Tentative Funding Deal With Investor, Extends Cash Runway
(Reuters) -UK-based Vertical Aerospace and Mudrick Capital have signed a non-binding term sheet under which the investor will convert half of its outstanding convertible debt to equity and extend the repayment date on the remainder to December 2028, the air-taxi maker said.
Air Taxi Maker Vertical Secures Bailout From Mudrick Capital
Flying taxi startup Vertical Aerospace Ltd. said it had secured as much as $50 million in new funding from Mudrick Capital Management, giving it financial breathing room to test and certify its first model.
Air taxi startup Vertical Aerospace extends runway with $50mn lifeline
The rescue deal comes at a crucial moment for Vertical, which has been burning through cash to bring its VX4 aircraft to market.
Air taxi firm Vertical says Mudrick to convert some notes to equity, extend repayment deadline
By Abhijith Ganapavaram (Reuters) -UK-based Vertical Aerospace said on Monday that investor Mudrick Capital has agreed to convert half of its outstanding convertible debt to equity and extend the repayment date on the remainder to December 2028,
Vertical Aerospace provisionally secures new funding with debt conversion and capital injection
Vertical Aerospace has unveiled a new provisional funding agreement involving a $130 million debt-to-equity swap and the provision of up to $50 million from primary creditor Mudrick Capital. Mudrick Capital is committing $25 million up-front,
Vertical Aerospace Soars: $50 Million Funding Boost And Debt Conversion Propel eVTOL Maker Forward
Vertical Aerospace Ltd. (NYSE:EVTL) shares are trading higher premarket on Monday. The company disclosed a signed term sheet with its majority shareholder, Stephen Fitzpatrick, and primary creditor, Mudrick Capital Management.
Air taxi firm Vertical says Mudrick to covert some notes to equity, extend repayment deadline
UK-based Vertical Aerospace said on Monday that investor Mudrick Capital has agreed to convert 50% of its outstanding convertible debt notes to equity and extend the repayment date on the rest to December 2028,
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Vertical chief eyes future investment after ‘tough but friendly’ talks unlock balance sheet
Stuart Simpson, chief executive of Vertical Aerospace, says the firm is now well-placed to raise further investment following ...
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Vertical Aerospace Secures $50MM in New Funding as Part of $180MM Transaction
Vertical Aerospace, a global aerospace and technology company, signed a term sheet among the company, its majority ...
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Vertical Aerospace secures $50 million in new funding bolstering its finances
Vertical Aerospace has secured $50 million in new funding bolstering its finances and helping it towards certification of its ...
Electric 'flying taxi' company gets £39m lifeline
Vertical Aerospace, based in Bristol, is testing a so-called electric flying taxi which can carry four passengers up to 100 ...
Energy tycoon cedes control of flying taxis start-up as part of £40m rescue deal
Bristol-based Vertical Aerospace has secured an emergency cash injection from US investor Mudrick Capital that will allow it ...