Vertical Aerospace (NYSE: EVTL), a UK-based electric aviation company, has closed its previously announced underwritten public offering, raising $60 million in gross proceeds. The offering included the sale of 12 million ordinary shares at $5.00 per share.
The company has also granted underwriters a 30-day option to purchase up to an additional 1.8 million shares at the offering price, which remains unexercised.
Proceeds from the offering will be directed toward research and development as the company continues progress on its electric vertical take-off and landing (eVTOL) aircraft, the VX4. Additional funds will support expanded testing and certification efforts, as well as general corporate purposes. Vertical noted that the funding extends its cash runway into mid-2026.
Deutsche Bank Securities and William Blair acted as joint bookrunners, while D. Boral Capital served as co-manager.
The offering was conducted under a prospectus supplement to Vertical’s registration statement on Form F-3, filed with and declared effective by the U.S. Securities and Exchange Commission in May 2025.
Vertical Aerospace is developing next-generation electric aircraft aimed at reducing aviation’s carbon footprint. Its flagship vehicle, the VX4, is a piloted, four-passenger eVTOL aircraft with zero operating emissions. The company also plans to introduce a hybrid-electric variant to serve longer-range missions and meet the evolving demands of the advanced air mobility market.
With the global push for sustainable transport, Vertical is among several players racing to bring eVTOL aircraft to market. The company aims to position itself at the forefront of urban air mobility through continued technological advancement and regulatory progress.
