Capital RaisingThe company faces pressure to secure a production agreement with a propulsion system supplier and complete a $180M capital raise, which could pose challenges if market conditions are unfavorable.
Cash ReservesThe company has seen a significant decrease in cash reserves, from £67M to £48M, raising concerns about its financial stability.
Equity Investment UncertaintyThe company has not received the second $25M tranche of the committed equity investment, and the status of this investment remains uncertain, potentially impacting future funding.