Vertical Aerospace launches $60 million public stock offering

Vertical Aerospace (NYSE: EVTL) announced Tuesday it has commenced an underwritten public offering of $60 million of ordinary shares. The electric aviation company has granted underwriters a 30-day option to purchase up to an additional $9 million of shares.

Deutsche Bank Securities and William Blair are serving as joint bookrunners for the offering. The company stated the offering is subject to market and other conditions, with no assurance regarding completion timing or final terms.

Vertical Aerospace plans to use net proceeds to fund research and development expenses as it continues developing its aircraft, expand testing and certification capacities, and support general working capital and corporate purposes.

The Bristol-based company is developing the VX4, a piloted four-passenger electric vertical take-off and landing aircraft with zero operating emissions. The company also plans to launch a hybrid-electric variant for increased range and mission flexibility.

Vertical Aerospace has approximately 1,500 pre-orders for the VX4 from customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. The company noted that certain customer obligations are expected to be fulfilled through third-party agreements.

The offering will be conducted through a preliminary prospectus supplement to the company's Form F-3 registration statement filed with the Securities and Exchange Commission on May 13, 2025, and declared effective on May 16, 2025.

Information is based on a company press release statement.

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