Vertical Aerospace (EVTL) Releases Shareholder Letter
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Vertical Aerospace Announces Release of Shareholder Letter and Filing of Annual Report on Form 20-F
March 14, 2024 7:30 AM EDTVertical expects to complete final assembly of second, more advanced full-scale VX4 prototype in coming weeks; on track to begin flight test programme ahead of intended public demonstrations at Farnborough and Heathrow. Latest VX4 includes more than 60% components from aerospace technology partners and Verticals second-generation propellers and proprietary battery packs. FY23 net cash used in operating activities was £74.7 million / $92.9 million, maintaining Verticals disciplined approach to spend management. $25 million received from Stephen Fitzpatrick on 13 March 2024; a further $25 million committed on 31st July 2024.
LONDON & NEW YORK--(BUSINESS WIRE)-- Vertical Aerospace... More
