TSLA
Tesla
-- 462.280 AMD
Advanced Micro Devices
-- 126.290 NVDA
NVIDIA
-- 140.220 PLTR
Palantir
-- 82.380 AVGO
Broadcom
-- 239.680 
NEWS
Vertical Aerospace Finalises Investment Agreement
Monday, 23rd December at 4:37 pm
Mudrick Capital Management enters into investment agreement to commit up to $50 million of new funding and converts $130 million debt into equity at fixed conversion price
Shareholder support paves way for funding round expected to close in Q1 2025
Vertical Aerospace Ltd. ("Vertical" or the "Company") (NYSE: EVTL, EVTLW)), a global aerospace and technology company that is pioneering electric aviation, has entered into definitive documents and received shareholder approval for a transaction that includes up to $50 million in new committed funding.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241223436920/en/
Vertical Aerospace's VX4 prototype, which is currently under going piloted flight tests at its Flight Test Centre. (Photo: Business Wire)
Vertical Aerospace's VX4 prototype, which is currently under going piloted flight tests at its Flight Test Centre. (Photo: Business Wire)
Today's announcement marks the significant advancement of the agreement in principle, announced in November, aimed at strengthening Vertical's balance sheet by approximately $180 million and accelerating the Company's Flightpath 2030 strategy.
Stuart Simpson, CEO at Vertical, said:
"Ending this momentous year with a finalised funding commitment and strong shareholder backing is a tremendous milestone. This moment sets us up perfectly for our biggest year yet - with new investment, piloted testing progress and major technological developments all on the cards."
Monday, 23rd December at 4:37 pm
Mudrick Capital Management enters into investment agreement to commit up to $50 million of new funding and converts $130 million debt into equity at fixed conversion price
Shareholder support paves way for funding round expected to close in Q1 2025
Vertical Aerospace Ltd. ("Vertical" or the "Company") (NYSE: EVTL, EVTLW)), a global aerospace and technology company that is pioneering electric aviation, has entered into definitive documents and received shareholder approval for a transaction that includes up to $50 million in new committed funding.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241223436920/en/
Vertical Aerospace's VX4 prototype, which is currently under going piloted flight tests at its Flight Test Centre. (Photo: Business Wire)
Vertical Aerospace's VX4 prototype, which is currently under going piloted flight tests at its Flight Test Centre. (Photo: Business Wire)
Today's announcement marks the significant advancement of the agreement in principle, announced in November, aimed at strengthening Vertical's balance sheet by approximately $180 million and accelerating the Company's Flightpath 2030 strategy.
Stuart Simpson, CEO at Vertical, said:
"Ending this momentous year with a finalised funding commitment and strong shareholder backing is a tremendous milestone. This moment sets us up perfectly for our biggest year yet - with new investment, piloted testing progress and major technological developments all on the cards."
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment