Vertical Aerospace Closes $60 Million Public Offering to Accelerate eVTOL Development
Vertical Aerospace Ltd. (NYSE: EVTL), a global leader in electric vertical take-off and landing (eVTOL) aircraft, has announced the successful closing of its underwritten public offering of shares, raising approximately $60 million in gross proceeds. The capital raised will support Vertical’s ongoing aircraft certification program, accelerate development of its flagship VX4 aircraft, and strengthen the company’s position in the rapidly evolving advanced air mobility (AAM) market.
The offering included the sale of 21,621,621 ordinary shares at a public offering price of $2.775 per share. This total includes 2,821,621 ordinary shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. The offering was underwritten by Deutsche Bank Securities Inc. and William Blair & Company, L.L.C., who acted as joint book-running managers.
A Strategic Step Forward in the Race to Commercial eVTOL Flight
The $60 million capital injection is a critical step forward for Vertical Aerospace as it continues to make meaningful progress in the design, certification, and eventual commercialization of the VX4, its fully electric, piloted eVTOL aircraft. The VX4 is designed to carry four passengers and a pilot, with the goal of offering safe, quiet, zero-emission urban air mobility solutions across cities and regions worldwide.
This funding round comes at a time when investor confidence in the eVTOL sector is growing, buoyed by tangible progress in flight testing and increased regulatory clarity from aviation authorities such as the European Union Aviation Safety Agency (EASA) and the U.S. Federal Aviation Administration (FAA). Vertical’s VX4 has already begun crewed test flights, demonstrating controlled wingborne flight in open airspace—making Vertical one of the few eVTOL developers to reach this milestone.
The proceeds from this offering will enable Vertical to continue testing and advancing toward type certification, a critical regulatory requirement that must be achieved before the VX4 can enter commercial service. The funds will also support further engineering work, supply chain development, and other operational activities necessary to bring the aircraft to market.
Growing Interest and Industry Partnerships
Vertical Aerospace has secured strong commercial momentum through pre-orders and strategic partnerships with major players in the aviation industry. To date, the company has conditional pre-orders for up to 1,400 VX4 aircraft from global customers including American Airlines, Virgin Atlantic, Avolon, and Japan Airlines. These partnerships not only underscore confidence in Vertical’s technology but also reflect a broader shift in the aviation industry toward decarbonized flight and advanced air mobility solutions.
In addition to customer commitments, Vertical has cultivated relationships with leading aerospace and engineering companies to support the development of its aircraft. Partners include Honeywell (flight control systems), Leonardo (aerostructures), GKN Aerospace (wings), and Rolls-Royce (electric propulsion), among others.
Industry Context: AAM Market Heating Up
The advanced air mobility market is expected to grow significantly in the coming years, driven by increasing demand for sustainable transportation alternatives and urban congestion mitigation. According to industry analysts, the global AAM market could reach tens of billions of dollars in annual revenue by the 2030s, with eVTOL aircraft playing a central role.
Vertical Aerospace is positioning itself to be a first mover in this market, with its engineering-led team, strong partnerships, and a focus on achieving certification through recognized aviation authorities. The successful completion of this public offering provides the company with additional financial flexibility to maintain its momentum as it prepares for the next phase of its flight test campaign and certification process.