Vertical Aerospace announces $50M in new funding

Vertical Aerospace (EVTL) announced the signing of a term sheet among the company, its majority shareholder Stephen Fitzpatrick, and its primary creditor Mudrick Capital Management. The VX4 during piloted, untethered testing. This term sheet secures a commitment to $50M in new funding. The funding will support the company’s newly launched Flightpath 2030 Strategy that aims to establish itself as a global leader in the eVTOL market by the end of the decade, including the ongoing development and certification of the VX4.