Articles from Vertical Aerospace

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, has successfully completed the second stage of piloted thrustborne testing of its full scale VX4 prototype.

Vertical Aerospace (Vertical) (NYSEEVTL) ("Vertical” or the “Company”), a global aerospace and technology company that is pioneering electric aviation, today announces the closing of its previously announced underwritten public offering (the “Offering”) for total gross proceeds of $90 million, before deducting underwriting discounts and commissions and other offering expenses.

Vertical Aerospace (Vertical) (NYSEEVTL) ("Vertical” or the “Company”), a global aerospace and technology company that is pioneering electric aviation, today announced that it has priced its underwritten public offering of $90 million of units at a public offering price of $6.00 per unit (the "Offering”). Each unit consists of one ordinary share and one-half of one Tranche A warrant and one-half of one Tranche B warrant. The ordinary shares and the warrants comprising the units are immediately separable and will be issued separately in the Offering. The Offering is expected to close on or about January 24, 2025, subject to customary closing conditions.

Vertical Aerospace (Vertical) (NYSEEVTL) ("Vertical” or the “Company”), a global aerospace and technology company that is pioneering electric aviation, today announced that it has commenced an underwritten public offering of $75 million of units (the "Offering”). Each unit consists of one ordinary share and one-half of one Tranche A warrant and one-half of one Tranche B warrant. The ordinary shares and the warrants comprising the units are immediately separable and will be issued separately in the Offering. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, announces the appointment of Dómhnal Slattery as Chairman of its Board of Directors with immediate effect. Mr. Slattery brings over three decades of global aviation industry expertise to Vertical and rejoins the Board having previously served as Chairman from January 2022 to August 2023 during which time Vertical built its industry leading order-book and listed on the New York Stock Exchange.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company pioneering electric aviation, today announced the signing of a term sheet among the Company, its majority shareholder Stephen Fitzpatrick, and its primary creditor Mudrick Capital Management.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company pioneering zero-emissions aviation, has seen its latest full scale VX4 prototype achieve piloted, untethered vertical take-off and landing for the first time as Phase 2 of its flight test programme begins.

Vertical Aerospace Ltd. (“Vertical” or the "Company") (NYSE: EVTL; EVTLW), a global aerospace and technology company that is pioneering zero emission aviation, today announces "Flightpath 2030," its strategy for market leadership before the end of the decade.

Vertical Aerospace Ltd. (“Vertical” or the "Company") (NYSE: EVTL; EVTLW), a global aerospace and technology company that is pioneering zero emission aviation, announces that it expects to share a business update pre-market on Tuesday, 12 November.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company pioneering zero-emissions aviation, has achieved another significant milestone. Its latest VX4 has completed the first phase of its piloted flight test programme at the Vertical Flight Test Centre.

Vertical Aerospace Ltd. (“Vertical” or the "Company") (NYSE: EVTL; EVTLW), a global aerospace and technology company that is pioneering zero emission aviation, announces it will hold its Annual General Meeting (AGM) at 12:30pm London Time on September 16th 2024 at their Bristol Headquarters, Unit 1, Camwal Court, Chapel St, Bristol BS2 0UW.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company pioneering zero-emissions aviation, has seen its latest VX4 prototype perform its first tethered piloted flight as it begins the “wheels up” phase of testing.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announced that testing on its most advanced eVTOL aircraft, unveiled last week, has started with initial powered ground tests, including propeller balancing, successfully complete.

Vertical Aerospace (Vertical) (NYSEEVTL), a global aerospace and technology company that is pioneering zero emissions aviation, today unveiled its next generation full-scale VX4 prototype, the only electric take-off and landing vehicle (eVTOL) designed, built and assembled in the UK.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announced that the scope of its Design Organisation Approval (DOA) has been expanded by the UK Civil Aviation Authority (CAA).

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, announces today that it has released its full year 2023 Annual Report, including its financial results, alongside its latest Shareholder Letter. Vertical’s Annual Report is accessible on the Company’s investor relations website and on the SEC’s website at www.sec.gov while the Shareholder Letter can be accessed here.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, entered into an investment agreement with its founder, majority shareholder and Chief Executive Officer, Stephen Fitzpatrick, in respect of a commitment by Mr. Fitzpatrick to provide up to $50 million of funding to the company in the form of an equity investment. This follows the January 21, 2024 previously announced legally binding termsheet agreement relating to the committed funding.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announces it has been awarded £8 million ($10 million) in grant funding by the UK Government, through the Aerospace Technology Institute (ATI) Programme, to develop its next-generation propellers for use on its VX4 aircraft.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, announces today that it has secured $50 million in committed funding from founder, majority owner and CEO, Stephen Fitzpatrick. The investment provides the platform for further funding rounds and extends Vertical’s projected cash runway into Q2 2025, supporting the continued development of the certification aircraft design following prototype testing this year. This certification aircraft will then go into final regulatory testing before production.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announced that it received a notice from the New York Stock Exchange (the "NYSE") on November 28, 2023, indicating that the company is not currently in compliance with the NYSE continued listing standard requiring a minimum average closing price for its ordinary shares of $1.00 over the preceding 30 consecutive trading days.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today provides an update on its overall programme.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces that South Korean mobility technology company, Kakao Mobility, has pre-ordered up to 50 of Vertical’s VX4 aircraft, adding South Korea to Vertical’s list of customer launch markets.

Vertical Aerospace Ltd. (“Vertical” or the "Company") (NYSE: EVTL; EVTLW), a leading aerospace and technology company that is pioneering electric aviation, announces that it has released a shareholder letter to its investor relations website, at investor.vertical-aerospace.com. The Company also filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2022 with the SEC (“the Annual Report”), which includes complete operating results for the full year 2022, guidance for 2023 and management commentary.

Vertical Aerospace (Vertical) (NYSEEVTL), a global aerospace and technology company that is pioneering zero-emissions aviation, today announces another significant UK investment and innovation milestone with the opening of the Vertical Energy Centre (VEC), believed to be the UK’s most advanced aerospace battery facility, based in Bristol.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces it has strengthened its executive leadership team with the appointment of John Martin as Chief Financial Officer (CFO). John joins Vertical after a successful thirty year career in senior operational and financial management roles of large, international businesses. John takes up the role at Vertical on 20 February 2023.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces that it has secured a pre-delivery payment for the reservation of aircraft delivery slots from its existing customer, the leading Japanese trading and investment conglomerate, Marubeni Corporation [Marubeni].

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces it has further strengthened its executive leadership team with the appointment of David King as Chief Engineer. David joins in February 2023 and will be responsible for the technical development and overall performance of the Vertical’s VX4 electric aircraft, supervising every phase of the project from start to completion.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, saw its VX4 eVTOL (electric vertical take-off and landing) aircraft take off from the ground for the very first time over the weekend.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announces the appointment of former McLaren Automotive CEO, Mike Flewitt, to the Board of Directors (the “Vertical Board”). An experienced leader in the world of automotive innovation and manufacturing, Mike further strengthens Vertical’s leadership team which draws from industry experts in aviation, automotive and technology sectors. Mike will join the Board’s Audit and Certification Committees.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation and CAE [NYSE: CAE, TSE: CAE], a market leader in flight simulation and training, today announced that CAE will be the pilot training partner for Vertical’s launch eVTOL aircraft, the VX4.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announces a partnership with Babcock International (Babcock) [LON: BAB], the aerospace, defence and security company to explore new applications for its VX4 eVTOL aircraft.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, today announces that it has confirmed delivery slots and the commitment of associated pre-delivery payments with American Airlines (NASDAQAAL).

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering electric aviation, announces today that FLYINGGROUP, one of Europe’s leading business jet operators, has conditionally pre-ordered up to 50 VX4 aircraft.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announces a strategic partnership with E-One Moli Energy Corp (Molicel), a leading manufacturer of lithium-ion cells, to supply high power cylindrical cells for Vertical’s VX4 eVTOL aircraft.

Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero emissions aviation, today announces further progress on its path to certification, including the appointment of the former European Union Aviation Safety Agency’s (EASA) Certification Director, Trevor Woods, as Director – Regulatory Affairs.

Vertical Aerospace (Vertical) [NYSE: EVTL] notes Avolon’s announcement today that it has exceeded its whole 500 unit pre-order of Vertical’s VX4 electric aircraft within nine months. Avolon, the world’s second largest aircraft lessor, pre-ordered 500 VX4s in June 2021, and as of today has placed all of these units, as well as an additional 50 aircraft options, with leading global airlines.

Vertical Aerospace (Vertical) [NYSE: EVTL] notes Avolon’s announcement today that it will partner with AirAsia Aviation Group Ltd (AirAsia), Asia’s leading low-cost airline, to create a transformational ride sharing platform in Southeast Asia, including a non-binding memorandum of understanding to lease a minimum of 100 VX4s, Vertical’s flagship electric aircraft.

Vertical Aerospace (“Vertical”) (NYSEEVTL), a leading aerospace and technology company that is pioneering zero-emissions aviation, today announced that it has agreed a joint development program with Leonardo for the design, testing, manufacture and supply of the carbon composite fuselage for Vertical’s VX4 electric aircraft.

Vertical Aerospace (“Vertical”) (NYSEEVTL), a global aerospace and technology company that is pioneering zero emissions aviation, announces the appointment of aviation industry veteran Dómhnal Slattery, as Non-Executive Chairman of Vertical’s board of directors (“Vertical Board”). Dómhnal succeeds Stephen Fitzpatrick as Chairman, who has held the combined role of Chairman & CEO since Vertical listed on the New York Stock Exchange (“NYSE”) in December 2021.

Vertical Aerospace (“Vertical”), a leading British eVTOL manufacturer which is pioneering the transition to carbon free aviation, today announced that Vertical and Marubeni Corporation (“Marubeni”), a leading Japanese integrated trading and investment business conglomerate have reached an agreement to explore sustainable, emissions free Advanced Aerial Mobility (AAM) travel solutions, focused on the application of Vertical’s flagship electric aircraft, the VA-X4, in the Japanese market. Marubeni has also agreed a conditional pre-order option of up to 200 of Vertical’s aircraft.

Vertical Aerospace (“Vertical”), a leading British eVTOL manufacturer which is pioneering zero emissions aviation, today announces a development and production agreement with world-leading technology supplier GKN Aerospace, who will provide the electrical wiring interconnection system (EWIS) and aerostructures for the VA-X4.