Vertical Aerospace announces 1-for-10 reverse share split

Vertical Aerospace announced a one-for-ten reverse share split of its issued and unissued ordinary shares and preferred shares, par value $0.0001 per share. The Reverse Share Split will become effective at 4:01 p.m. Eastern Time on September 20, 2024. The Company’s ordinary shares will begin trading on a split-adjusted basis when the New York Stock Exchange opens for trading on Monday, September 23, 2024 under the existing trading symbol “EVTL,” but the ordinary shares will trade under a new CUSIP number, G9471C206. The Company’s outstanding public warrants will continue to be traded under the symbol “EVTLW” and the CUSIP number for such public warrants will remain unchanged. The Company obtained shareholders’ approval for the Reverse Share Split at a ratio of between 1-for-5 and 1-for-20 at the Company’s annual general meeting of the shareholders held on September 16, 2024, with the final decision of whether to proceed with the Reverse Share Split, the effective time of the Reverse Share Split, and the final reverse share split ratio to be determined by the Company’s board of directors in its sole discretion. On September 16, 2024, the Company’s board of directors approved the reverse share split ratio of 1-for-10 and the Effective Date for the Reverse Share Split.