Vertical Aerospace Taps Jefferies to Explore Strategic and Financial Alternatives
Vertical Aerospace Seeks Support for Next Phase of eVTOL Aircraft Development
Sept 24 (Reuters) - British electric aviation company Vertical Aerospace said on Thursday it had hired Jefferies to review strategic alternatives, including potential strategic and financial partnerships, as it seeks support for the next phase of development of its eVTOL aircraft.
Industry Context: Electric Air-Taxi Developers Pursue Capital and Partnerships
The move comes as electric air-taxi developers seek fresh capital and strategic partners to help fund certification, scale up manufacturing and bring aircraft into commercial service.
CEO Statement on Financing and Growth
• "As our focus moves to certification, industrialisation and commercialisation, we feel that now is the right time to explore our options for financing the next phase of our growth," said CEO Stuart Simpson.
Recent Financing and Board Appointments
March Financing Package
• In March, Vertical secured a financing package of up to $850 million, including fresh equity and funding commitments from Mudrick Capital Management and Yorkville Advisors, to support flight testing, certification and initial production of its electric air taxi aircraft.
Leadership Changes
• Vertical has appointed former Airbus Commercial Aircraft division CEO Fabrice Bregier as board chair to help steer the company through its next phase of growth.
Ongoing Operations and Certification Efforts
• It said operations and certification efforts would continue during the review and that it remains on track to complete its Critical Design Review by the end of 2026, though there is no assurance the process will result in a transaction or strategic change.
(Reporting by Apratim Sarkar in Bengaluru; Editing by Tasim Zahid)
