Vertical Aerospace Lines Up About $100 Million to Push Valo Toward Certification

Overview

• Vertical announced financing commitments totaling roughly US$100 million on Monday to fund the next phase of development for its Valo eVTOL.
• The package breaks into three parts: a US$40 million commitment from Mudrick Capital, a US$35 million underwritten unit offering priced at US$1.05 per unit, and a US$25 million draw from a Yorkville preferred-equity facility.
• Mudrick’s US$40 million includes a US$5 million draw that has already closed and an accelerated US$35 million draw planned by mid-August that remains a non-binding agreement pending definitive documentation.
• Vertical says the funds will complete the Critical Design Review—which locks the certifiable design baseline—expand battery production at its Energy Centre, develop UK manufacturing capacity (with possible UK government support), and prepare a prototype for hybrid-electric testing in the first half of 2027.
• Near-term risks include the conditional nature of some tranches and expected settlements in mid-August, and investors will watch Vertical’s half-year results due Aug. 13 for updated cash and liquidity guidance.