Vertical Aerospace has executed and closed its comprehensive $850 million financing package, securing approximately $160 million in near-term working capital for the Valo eVTOL program.
The deal, originally announced in principle on March 30, 2026, finalizes just days after a successful two-way transition flight test, positioning the UK developer to meet 2028 certification targets with regulators including CAA, EASA, and FAA.
Key components include Mudrick Capital’s extension of existing convertible secured notes plus up to $50 million in new notes over 12 months, Yorkville Advisors Global’s up to $250 million in Series A convertible preferred equity over 24 months, and a $500 million equity line of credit over 36 months.
Vertical raised $50 million via share issuance and has drawn $30 million initially from the facilities.
Funds will complete piloted transition testing, enable public flight demonstrations, advance UK manufacturing line construction, launch production of the first certification aircraft, and progress regulatory testing.
This influx bolsters Vertical’s runway through certification and early production, providing flexible capital access amid eVTOL market competition and enabling strategic milestones without immediate dilution pressures.