Vertical Aerospace Ltd Stock Price, News & Analysis

Vertical Aerospace [NYSE: EVTL] has appointed three new directors to strengthen its Board: James Keith Brown, Kris Haber, and Carsten Stendevad. The appointments are effective April 30, 2025 for Haber and May 14, 2025 for Brown and Stendevad. These strategic additions bring extensive capital markets expertise and experience in scaling growth-stage companies. Brown, a Senior Advisor at Thrive Capital, brings IPO experience from Och-Ziff Capital. Haber, CEO of Vega Partners, contributes 33 years of corporate finance expertise. Stendevad, Partner at Bridgewater Associates, adds sustainable investing knowledge. The appointments come as Vertical targets cash break-even in 2030 and aims to complete its piloted test flight program in 2025. Board members Gur Kimchi and Kathy Cassidy will step down, expanding the board to seven directors.

Vertical Aerospace [NYSE: EVTL], a zero emission aviation pioneer, has scheduled a business update for Tuesday, May 13, 2025, before market opening. The company will host a webcast at 8:30 AM ET (13:30 BST) featuring CEO Stuart Simpson and other leadership team members to discuss the update.

Investors can access the webcast through Vertical's Investor Relations website or join by phone using the dial-in numbers +1 (646) 307-1963 or +1 800 715-9871 with Conference ID 5515222. A replay will be available on the company website after the event.

Vertical Aerospace (NYSE: EVTL) has announced its adoption of the Combined Charging Standard (CCS) for its VX4 electric vertical take-off and landing (eVTOL) aircraft, joining BETA Technologies and Archer Aviation in establishing a universal fast-charging system.

The company has purchased two BETA chargers for evaluation as it implements CCS. This standardization will enable rapid battery charging and conditioning for shuttle operations, allowing immediate interoperability with all CCS chargers in the network.

The move aligns with the General Aviation Manufacturers Association (GAMA) recommendation for standardized charging systems, which is important for scaling and commercializing electric aviation. The unified charging standard aims to reduce costs, streamline operations, and accelerate the adoption of electric aircraft across the industry.

Vertical Aerospace [NYSE: EVTL] has appointed Paul Stone as Test Pilot, making it one of the few eVTOL companies globally with multiple test pilots experienced in full-scale eVTOL aircraft. Stone brings over 28 years of flight test experience and 4,800 flight hours across 200+ aircraft types.

Stone's background includes serving as Chief Test Pilot at Volocopter, 20 years in the Royal Navy, and extensive experience with VTOL systems. He joins Vertical's existing test team, including Chief Test Pilot Simon Davies and test pilot Tim Eldridge.

The appointment comes as Vertical advances its piloted flight test program, having completed piloted thrustborne testing for its VX4 prototype. The company is working with the UK Civil Aviation Authority to expand its flight envelope toward wingborne flight. Additionally, Vertical has begun assembly of a third full-scale VX4 prototype at GKN Aerospace's Global Technology Centre.

Vertical Aerospace (NYSE: EVTL) has released its 2024 Annual Report highlighting significant progress in its Flightpath 2030 strategy. The company secured $220M in re-financing, including a balance sheet restructure and a $90M public offering, ensuring operations through 2025.

Key achievements include: completion of piloted thrustborne testing with their second full-scale VX4 prototype, making them the second company globally to achieve this milestone with a vectored thrust eVTOL. Over 30 piloted test flights were conducted, gathering 5 million data points. The company is now preparing for piloted wingborne flight.

Financial highlights show FY 2024 net cash used in operating activities of $58 million. As of December 2024, cash reserves were $28 million, with post-offering cash totaling $99 million. FY 2025 expected net cash outflows are projected between $110-125 million.

Vertical Aerospace [NYSE: EVTL] has appointed Eamonn Brennan, former Director General of Eurocontrol, as an adviser to its Board. Brennan brings 35 years of aviation experience, having served as Eurocontrol's Director General (2018-2022) and CEO of the Irish Aviation Authority (2003-2017).

The appointment comes at a important time as Vertical advances its VX4 aircraft certification. The company has recently completed piloted thrustborne testing and is working with the CAA to expand its flight envelope ahead of wingborne flight. This development represents a significant step toward full certification and commercial viability.

Vertical has active certification validation projects with five regulators, including the FAA, EASA, CAA, ANAC, and JCAB. The appointment follows the company's recent $90m underwritten public offering and launch of its Flightpath 2030 strategy.

Vertical Aerospace [NYSE: EVTL] has successfully completed Phase 2 of piloted thrustborne testing for its full-scale VX4 prototype, with the aircraft exceeding stability and performance expectations. During this phase, the VX4 completed over thirty piloted test flights, demonstrating hover capabilities, low-speed flight maneuvers, and handling procedures.

The testing provided hundreds of data points on aircraft systems, thrust levels, lift efficiency, and control responsiveness, with no system failures reported. The company is now preparing for the next important phase - wingborne flight testing - which will require UK Civil Aviation Authority approval to expand its Permit to Fly.

This progress comes alongside other recent developments, including the appointment of Dómhnal Slattery as Chair and the completion of an upsized $90 million underwritten public offering. The company is also developing an identical full-scale prototype to accelerate the flight test program.

Vertical Aerospace (NYSE: EVTL) has successfully closed its upsized public offering, raising $90 million in gross proceeds, exceeding the initial target of $75 million. The offering included over $60 million from new investors and $25 million from Mudrick Capital, following a December 2024 Investment Agreement that also converted $130 million of debt into equity.

The company sold 15 million units at $6.00 per unit, each comprising one ordinary share and two half-warrants. If exercised, the warrants could generate additional proceeds of approximately $101 million. The funds will support VX4 development, testing, and certification expenses, targeting certification in 2028.

In January 2025, Vertical became the second company globally to achieve piloted thrustborne flight maneuvers with a full-scale vectored thrust eVTOL aircraft. The company's total outstanding shares post-offering are 84,552,721, with cash and equivalents of £22.5 million ($28 million) as of December 31, 2024.

Vertical Aerospace (NYSE: EVTL) has announced the pricing of its upsized underwritten public offering of $90 million of units at $6.00 per unit. Each unit includes one ordinary share and two warrant components: one-half Tranche A warrant and one-half Tranche B warrant.

The Tranche A warrants, exercisable at $6.00 per share, will expire either 30 days after successful VX4 wing-borne flight demonstration and meeting specific price conditions, or after five years. Tranche B warrants, exercisable at $7.50 per share, have a five-year expiration.

The offering, expected to close around January 24, 2025, will be led by William Blair as lead bookrunner and Canaccord Genuity as joint bookrunner. Proceeds will fund VX4 development, testing and certification expansion, and general corporate purposes.