Welcome to our dedicated page for Vertical Aerospace Ltd. SEC filings (Ticker: EVTL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Vertical Aerospace Ltd.'s SEC filings document the company's reporting as a foreign private issuer developing the Valo electric vertical take-off and landing aircraft. Form 6-K reports include operating and financial reviews, unaudited interim financial statements, prototype flight-test and certification disclosures, and incorporation of certain materials into Form F-3 registration statements.
The filings also record capital-structure and financing matters, including ordinary share issuances, an at-the-market program, senior secured convertible notes, convertible preferred equity and an equity line of credit. Other disclosures cover long-term supplier agreements for Valo components, subsidiary arrangements, intellectual property litigation matters, forward-looking statements and governance or legal information tied to the company's aircraft development program.
Vertical Aerospace Ltd. is raising equity through a registered direct offering of 33,333,334 Units at $1.05 per Unit, for a gross offering size of $35,000,001. Each Unit includes one ordinary share and one four-year Tranche C Warrant exercisable at $2.00 per share, immediately upon issuance.
The company expects net cash proceeds of about $32.55 million before expenses, and could receive up to an additional $66.67 million if all Tranche C Warrants are exercised for cash. Ordinary shares outstanding would rise to 171,723,641, excluding warrant and option exercises and other convertible instruments, and the filing details substantial additional potential dilution from notes, preferred shares, warrants and equity facilities.
Proceeds are intended mainly for aircraft research and development, and expansion of testing and certification capacity, with remaining funds for working capital and general corporate purposes. The company highlights recurring losses, heavy funding needs and states that limited cash and dependence on new capital raise a material uncertainty that may cast significant doubt on its ability to continue as a going concern.
Vertical Aerospace Ltd. is conducting a primary financing under its shelf registration, offering YA II PN, Ltd. up to 25,000 Series A convertible preferred shares in a second tranche at $960 per $1,000 stated value, plus up to 7,559 additional Series A shares payable as in-kind dividends. These preferred shares are convertible into ordinary shares at the lower of a fixed price (for this tranche $1.26) and a variable price equal to 96% of the lowest five-day VWAP, but not below a $0.598 floor. The filing registers up to 54,446,488 ordinary shares issuable upon conversion. As of June 30, 2026, Vertical had 138,390,307 ordinary shares outstanding and cash and cash equivalents of about £50 million (approximately $66 million). Net proceeds of roughly $23.75 million are intended for aircraft R&D, expansion of testing and certification capacity, and general corporate purposes. The company highlights significant dilution from conversion and discloses recurring losses, limited cash and a material uncertainty that may cast significant doubt on its ability to continue as a going concern.
Vertical Aerospace Ltd. announced financing commitments of approximately $100 million from existing and new investors. The additional capital is intended to strengthen the balance sheet and support continued progress toward certification and commercialisation of the company’s Valo electric aircraft platform and related programme priorities.
The proposed financing includes a component from Mudrick Capital under a non-binding agreement in principle, which remains subject to negotiation and execution of definitive agreements and may not be consummated. Further detail on the equity and preferred equity offerings is provided in related disclosures filed the same day.
The capital raise follows notable operational milestones, including Vertical becoming only the second company globally to complete a piloted transition flight in a full-scale tiltrotor eVTOL and five public demonstration flights at the Farnborough International Airshow, viewed by more than 140,000 visitors. Vertical reports around 1,500 pre-orders for Valo and plans to update cash and liquidity guidance with its half-year results on August 13, 2026.
Vertical Aerospace Ltd. completed financing transactions involving both common equity and convertible preferred shares. The company priced an underwritten registered direct offering of units totaling approximately $35 million, with each unit consisting of one ordinary share and one Tranche C warrant, at $1.05 per unit. Estimated net proceeds are $32.55 million, to be used for research and development, expansion of testing, manufacturing and certification capacities, and general working capital.
Separately, under a previously disclosed securities purchase agreement with YA II PN, Ltd. (Yorkville) allowing up to $250,000,000 of convertible preferred over 24 months in tranches of up to $25 million, the company issued 25,000 Series A Convertible Preferred Shares at $960.00 per share for aggregate proceeds of $24 million. These preferred shares have a $1,000 liquidation value and a fixed conversion price component of $1.26 per ordinary share, with proceeds intended for the same development and corporate purposes.
Vertical Aerospace Ltd. entered into a non-binding agreement in principle with Mudrick Capital Management and a designee of Yorkville Advisors for a proposed $100 million comprehensive financing package. The structure contemplates $35 million of additional convertible secured notes to Mudrick, $25 million of Series A convertible preferred shares to Yorkville, and approximately $35 million of newly issued ordinary shares to selected investors.
The additional notes would be issued under the existing indenture for the company’s 10.00% cash / 12.00% PIK convertible senior secured notes due December 15, 2030, with a revised conversion price of $1.30 per ordinary share. The term sheet also outlines governance changes via a shareholder agreement granting Mudrick board nomination rights, amendments to Yorkville’s preferred share documents, a limited waiver of certain short-selling restrictions for Yorkville, and creation of a new management option pool with 2,767,806 options.
As of June 30, 2026, Vertical Aerospace had 138,390,307 ordinary shares outstanding (excluding treasury shares) and cash and cash equivalents of approximately £50 million ($66 million). The company plans to use any financing proceeds to fund research and development, expansion of testing, manufacturing and certification capacity, and for general working capital. The term sheet is expressly non-binding and subject to definitive documentation, shareholder approvals and other conditions, with no assurance the transactions will be completed.
Mudrick Capital Management, affiliated funds and Jason Mudrick report updated beneficial ownership of Vertical Aerospace Ltd. ordinary shares. They collectively beneficially own 105,401,051 Ordinary Shares, including shares issuable on conversion of Convertible Senior Secured Notes and warrants, representing 55% of the class based on 191,631,773 shares outstanding.
Under an April 20, 2026 Convertible Note Purchase Agreement, the company may sell up to $50,000,000 of Additional Convertible Senior Secured Notes; $15,000,000 has been purchased so far. On August 5, 2026, Mudrick agreed in principle, subject to definitive agreements, to purchase the remaining $35,000,000 on amended terms. The Indenture governing the 10.00% / 12.00% Convertible Senior Secured PIK Toggle Notes due 2030 will be amended so the conversion price for all such notes changes from $3.50 to $1.30 per Ordinary Share.
On the same date, Mudrick agreed it would consent to the company issuing $25,000,000 of Series A Convertible Preferred Shares to Yorkville Advisors Global, LP, waived participation rights in a $35,000,000 common equity offering, and agreed to vote its securities to approve repricing of certain employee options and a new management option pool. A Shareholder Agreement will expand the board to nine directors, give Mudrick proportionate nomination and committee representation rights while it beneficially owns at least 10% of the Ordinary Shares, and require a shareholder meeting by September 15, 2026 to vote on Articles Amendments.
Vertical Aerospace provided a business update on its Valo electric and hybrid-electric aircraft programs. After re-baselining its program plan with suppliers and remaining certification work, the company now expects to achieve Type Certification of Valo in 2029, later than its previously targeted 2028 timeline. Management states this reflects the rigor of certifying a new class of aircraft under existing regulatory frameworks.
The company reported multiple successful piloted transition flights under UK CAA Design Organisation Approval and received an expanded Permit to Fly, allowing its first public demonstration flights away from Cotswold Airport. Vertical plans to complete Critical Design Review by the end of 2026, bring an early production assembly facility online in Q3 2026, and expand its battery-focused Vertical Energy Centre in Q4 2026. A hybrid-electric Valo variant targeting up to 1,000 miles of range and up to 1,100kg payloads is progressing, with hybrid propulsion testing underway and flight testing targeted for H1 2027. The company cites approximately 1,500 conditional pre-orders with an estimated value of about $6 billion and plans to update its funding position alongside H1 2026 results on August 13, 2026.
Vertical Aerospace Ltd. director Benjamin Robert Story received a grant of 30,660 Nil Cost Options linked to common stock. These options were awarded at an exercise price of $0.00 per share as part of his compensation. Following this grant, he holds 71,133 options in total, of which 40,473 are already vested and the remaining options are scheduled to vest on December 31, 2026. This filing reflects a compensation-related award rather than an open-market share purchase or sale.
Vertical Aerospace director Poul Carsten Stendevad reported routine equity compensation and related tax withholding. He received 59,433 Restricted Stock Units that will vest on December 31, 2026 and have no expiration date. On the same date, 867 common shares were withheld at $1.74 per share to cover tax obligations, leaving him with 140,395 common shares directly owned.
Vertical Aerospace Ltd. director Andrew David Parker reported a compensation-related grant of 29,481 Nil Cost Options over the company’s common stock. These options carry a zero exercise price and increase his total option holdings to 52,465.
According to the disclosure, 22,984 of these options are vested, while the remaining portion is scheduled to vest on December 31, 2026. This filing reflects an equity award rather than an open-market share purchase or sale.