Vertical Aerospace adds ex-Leonardo Helicopters CEO to board

Vertical Aerospace (EVTL) reported Q2 2026 progress, securing $100M in financing, extending cash runway to Q3 2027. Certification delayed to 2029. Key milestones include Farnborough demos, pre-orders, and facility openings. Management highlighted technical and financial advancements.

Vertical Aerospace (EVTL) discussed Q2 progress on its VX4 eVTOL platform, including adding a second flight-test aircraft and hybrid-electric integration testing. It expects hybrid-electric flight testing in H1 2027 and VX4 type certification in 2029. Vertical announced a ~$100M financing package, had ~$134M cash as of Aug. 13, 2026, and expects cash runway into Q3 2027.

Mudrick Capital Management and affiliated funds reported in an SEC Schedule 13D that they beneficially own 214,698,010 ordinary shares of Vertical Aerospace Ltd., 64.2% on a partially diluted basis. The filing says Vertical issued $35 million more in Convertible Senior Secured Notes and amended the conversion price from $3.50 to $1.30 per share. Mudrick also received board nomination and consent rights.

Vertical Aerospace (NYSE: EVTL) issued an H1 2026 business update and will host a conference call at 08:30 ET. It reported piloted transition flights with two full-scale aircraft, five consecutive Farnborough public eVTOL days, and ecosystem expansion via Near Earth Autonomy and Honeywell’s Project VERTI-GO. It said it has about $134m cash, ~$100m financing commitments, and expects 12 months runway, with a £10m UK production-facility support discussion.

Vertical Aerospace (NYSE:EVTL) completed a US$35.0 million composite units offering, issuing 33,333,334 equity and derivative units at US$1.05 each, according to the article. The raise follows a year of sharp share price declines. The piece cites an estimated fair value of $60 versus a last close of $0.89 and discusses funding and VX4 testing as key risks.

Vertical Aerospace, a NYSE-listed eVTOL “flying taxi” maker, secured a $100m financing package. It plans a design review, to open an energy center for battery production, and to retrofit its third prototype for hybrid-electric flight testing in 1H 2027. The deal includes $40m from Mudrick Capital, $25m from Yorkville Advisors, and $35m from other investors, plus plans for a UK production facility.