Capital RaisingThe necessity to finalize a production agreement with a propulsion system supplier and complete an anticipated capital raise of $180M creates uncertainty and potential financial strain.
Cash PositionThe company has seen a decrease in cash from £67M to £48M on the balance sheet, indicating a significant cash burn over time.
Equity InvestmentThe failure to receive the second $25M tranche of the committed equity investment from Founder Stephen Fitzpatrick, with the status of this equity stake remaining uncertain, poses a risk to financial stability.