Vertical Aerospace Ltd., a leader in electric aviation, has announced the successful closing of its underwritten public offering, raising gross proceeds of $60 million. The company sold 12 million ordinary shares at $5.00 each, with an additional option for underwriters to purchase up to 1.8 million more shares. The proceeds from this offering are intended to support the company's ongoing research and development, expand its testing and certification capacities, and cover general corporate expenses. Deutsche Bank Securities and William Blair served as joint bookrunners, while D. Boral Capital acted as co-manager for the offering. This financial boost is expected to extend Vertical Aerospace's cash runway into the middle of 2026, marking a significant step forward in its mission to advance electric aviation technology.
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