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Vertical, Air taxi
Air-Taxi Maker Vertical Signs Tentative Funding Deal With Investor, Extends Cash Runway
(Reuters) -UK-based Vertical Aerospace and Mudrick Capital have signed a non-binding term sheet under which the investor will convert half of its outstanding convertible debt to equity and extend the repayment date on the remainder to December 2028, the air-taxi maker said.
Air taxi startup Vertical Aerospace extends runway with $50mn lifeline
The rescue deal comes at a crucial moment for Vertical, which has been burning through cash to bring its VX4 aircraft to market.
Air Taxi Maker Vertical Secures Bailout From Mudrick Capital
Flying taxi startup Vertical Aerospace Ltd. said it had secured as much as $50 million in new funding from Mudrick Capital Management, giving it financial breathing room to test and certify its first model.
Air taxi firm Vertical says Mudrick to convert some notes to equity, extend repayment deadline
By Abhijith Ganapavaram (Reuters) -UK-based Vertical Aerospace said on Monday that investor Mudrick Capital has agreed to convert half of its outstanding convertible debt to equity and extend the repayment date on the remainder to December 2028,
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
Flightglobal
14h
Vertical chief eyes future investment after ‘tough but friendly’ talks unlock balance sheet
Stuart Simpson, chief executive of Vertical Aerospace, says the firm is now well-placed to raise further investment following ...
22h
AI in vertical farming could transform global agriculture | The Excerpt
By incorporating AI, robotics and vertically stacked crops in controlled environmental conditions, this farming model may ...
11h
Vertical agreement with Mudrick removes convert overhang, says Raymond James
Vertical Aerospace’s (EVTL) agreement with Mudrick removes Vertical’s convert overhang, improves governance, and paves the way for up to $50M ...
Flightglobal
1d
Vertical Aerospace provisionally secures new funding with debt conversion and capital injection
Vertical Aerospace has unveiled a new provisional funding agreement involving a $130 million debt-to-equity swap and the ...
CovNews
14h
Rivian slated to go vertical at Stanton Springs plant in 2028; receives $6.6 billion commitment from U.S. government
Electric vehicle (EV) company Rivian has revealed its tentative plans to return to Stanton Springs for vertical construction, ...
3d
Say Goodbye to SaaS : How Vertical AI Agents are Taking Over the Business World
Learn how vertical AI agents are reshaping the business landscape, providing innovative solutions and driving efficiency ...
CompositesWorld
6d
Vertical Aerospace completes Phase 2 piloted flight testing
VX4 eVTOL aircraft prototype begins untethered, piloted, thrust-borne testing following expansion of permit to fly from the ...
Homes & Gardens on MSN
4d
Lainey Wilson uses 'sophisticated' vertical storage to make use of unexpected space in her kitchen – the designer-approved feature translates to every home
For those of us with small kitchens, storage solutions are a major point of interest. Whether it's minimal counter space or a ...
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