Vertical Review to Explore 'Financing Next Phase of Growth'

Vertical Aerospace starts strategic review amid air-taxi certification push (EVTL:NYSE)

Vertical Aerospace (EVTL) explores strategic alternatives with Jefferies to fund eVTOL certification and production.

Vertical review to explore 'financing next phase of growth'

Vertical Aerospace is launching a review to 'explore financing the next phase of growth' following the 'most significant year' in its history.

Vertical Aerospace hires Jefferies to review strategic options

Vertical Aerospace announces strategic review of financial partnerships

Vertical Aerospace today announced that it has initiated a review of strategic alternatives including potential strategic and financial partnerships to advance the next stage of development. The company has retained Jefferies LLC as its financial advisor in connection with the review. According to Stuart Simpson, CEO of Vertical Aerospace: “This year has been the most significant year in Vertical’s history, with the completion of the first piloted transition flight under regulatory supervision globally at Farnborough International Airshow. Our team at Vertical has developed the best-in-class and only dual-use VTOL platform to the most exacting safety standards to serve a broad range of commercial and defence markets. The technology is in place and has been de-risked. “As our focus moves to certification, industrialisation and commercialisation, we feel that now is the right time to explore our options for financing the next phase of our growth.” The company recently strengthened its financial position with approximately USD100 million of new financing to support continued progress towards certification and commercialisation. It has also appointed former Airbus Commercial Aircraft CEO Fabrice Brégier as Chair of its Board to help steer the company through its next phase of development. According to a press release: “The company has not set a timetable for completion of the review, and there can be no assurance that the review will result in any transaction, strategic change or other outcome. Vertical does not intend to disclose developments with respect to the review unless and until its Board of Directors has approved a specific course of action or otherwise determines that further disclosure is appropriate or required by law.” (Image: Philip Butterworth-Hayes)

Vertical Aerospace Announces Review of Strategic Alternatives to Support Next Phase of Development; Appoints Jefferies as Financial Advisor

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