Latest news with #ElectricVerticalTake-OffandLanding
Business Wire
2 days ago
- Business
- Business Wire
Vertical Aerospace Announces Closing of $60M Underwritten Public Offering
LONDON & NEW YORK--(BUSINESS WIRE)--Vertical Aerospace (Vertical) (NYSE: EVTL) ("Vertical' or the 'Company'), a global aerospace and technology company that is pioneering electric aviation, today announces the closing of its previously announced underwritten public offering (the 'Offering') for total gross proceeds of $60 million, before deducting underwriting discounts and commissions and other offering expenses. In the Offering, Vertical sold 12,000,000 ordinary shares at $5.00 per ordinary share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 ordinary shares at the public offering price, which has not yet been exercised. Vertical intends to use the net proceeds from the Offering to fund its research and development expenses as Vertical continues to develop its aircraft and its expenditures in the expansion of its testing and certification capacities, as well as for general working capital and other general corporate purposes. Specifically, the net proceeds from this offering extends the Company's cash runway towards the middle of 2026. Deutsche Bank Securities and William Blair acted as joint bookrunners for the Offering and D. Boral Capital acted as co-manager. The Offering was made only by means of a prospectus supplement to the Company's registration statement on Form F-3 (File No. 333-287207) previously filed with the U.S. Securities and Exchange Commission (the 'SEC') on May 13, 2025 and declared effective by the SEC on May 16, 2025. Copies of the prospectus supplement and accompanying prospectus relating to the Offering may be obtained from the SEC's website located at or by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Department, 1 Columbus Circle, New York, NY 10019, by telephone at (800) 503-4611, or by email at or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by email at prospectus@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Vertical Aerospace Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical will also be launching a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK's aerospace industry, Vertical's experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended (the 'Securities Act') and Section 21E of the Securities Exchange Act of 1934, as amended (the 'Exchange Act'). Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the use of proceeds from the Offering, the potential purchase of additional shares by the underwriters during the 30-day option, our future results of operations and financial position, our plans for capital expenditures, the design and manufacture of the VX4, our business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, certification and the commercialization of the VX4 and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, expectations surrounding pre-orders and commitments, the features and capabilities of the VX4, the transition towards a net-zero emissions economy, as well as statements that include the words 'expect,' 'intend,' 'plan,' 'believe,' 'project,' 'forecast,' 'estimate,' 'may,' 'should,' 'anticipate,' 'will,' 'aim,' 'potential,' 'continue,' 'are likely to' and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: our limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; our history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; our potential inability to test, produce, certify or launch aircraft in the volumes or timelines projected, including achieving the targets set out in Flightpath 2030; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; any accidents or incidents involving eVTOL aircraft could harm our business; our dependence on partners and suppliers for the components in our aircraft and for operational needs; the potential that certain strategic partnerships may not materialize into long-term partnership arrangements; all of the pre-orders received are conditional and may be terminated at any time and any pre-delivery payments may be fully refundable upon certain specified dates; the inability for our aircraft to perform at the level we expect and may have potential defects; any potential failure to effectively manage our growth; our inability to recruit and retain senior management and other highly skilled personnel, our ability to raise additional funds when we need or want them, or at all, to fund our operations; our limited cash and cash equivalents and recurring losses from our operations raise significant doubt (or raise substantial doubt as contemplated by PCAOB standards) regarding our ability to continue as a going concern; the fact that we have previously identified material weaknesses in our internal controls over financial reporting which if we fail to properly remediate, could adversely affect our results of operations, investor confidence in us and the market price of our ordinary shares; the fact that our preliminary cash position and predicted cash runway toward the middle of 2026 as a result of the Offering represent management's current estimates and are subject to change; the fact that as a foreign private issuer, we follow certain home country corporate governance rules, are not subject to U.S. proxy rules and are subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption 'Risk Factors' in our Annual Report on Form 20-F filed with the SEC on March 11, 2025, as such factors may be updated from time to time in our other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
Yahoo
5 days ago
- Business
- Yahoo
Vertical Aerospace Announces Launch of Proposed Underwritten Public Offering
LONDON, July 08, 2025--(BUSINESS WIRE)--Vertical Aerospace (Vertical) (NYSE: EVTL) ("Vertical" or the "Company"), a global aerospace and technology company that is pioneering electric aviation, today announced that it has commenced an underwritten public offering of $60 million of the Company's ordinary shares (the "Offering"). In connection with the Offering, the Company has granted the underwriters a 30-day option to purchase up to an additional $9 million of ordinary shares. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering. Deutsche Bank Securities and William Blair are acting as joint bookrunners for the proposed Offering. Vertical intends to use the net proceeds from the Offering to fund its research and development expenses as Vertical continues to develop its aircraft and its expenditures in the expansion of its testing and certification capacities, as well as for general working capital and other general corporate purposes. The Company's ordinary shares trade on the NYSE under the symbol "EVTL". The proposed Offering will be made only by means of a preliminary prospectus supplement to the Company's registration statement on Form F-3 (File No. 333-287207) previously filed with the U.S. Securities and Exchange Commission (the "SEC") on May 13, 2025 and declared effective by the SEC on May 16, 2025. Copies of the preliminary prospectus supplement and an accompanying prospectus relating to the proposed Offering will be available upon filing on the SEC's website located at or by contacting: Deutsche Bank Securities Inc., Attention: Prospectus Department, 1 Columbus Circle, New York, NY 10019, by telephone at (800) 503-4611, or by email at or William Blair & Company, L.L.C., Attention: Prospectus Department, 150 North Riverside Plaza, Chicago, IL 60606, by telephone at (800) 621-0687, or by email at prospectus@ The final terms of the proposed public offering will be disclosed in a final prospectus supplement to be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Vertical Aerospace Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner and quieter way to travel. Vertical's VX4 is a piloted, four passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical will also be launching a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market. Vertical combines partnering with leading aerospace companies, including GKN, Honeywell and Leonardo, with developing its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of the VX4, with customers across four continents, including American Airlines, Japan Airlines, GOL and Bristow. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, the epicentre of the UK's aerospace industry, Vertical's experienced leadership team comes from top tier automotive and aerospace companies such as Rolls-Royce, Airbus, GM and Leonardo. Together they have previously certified and supported over 30 different civil and military aircraft and propulsion systems. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the size and expected gross proceeds from the Offering, completion and timing of the Offering, the anticipated use of proceeds from the Offering and the expectation to grant the underwriters a 30-day option to purchase additional shares, our future results of operations and financial position, our plans for capital expenditures, the design and manufacture of the VX4, our business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, certification and the commercialization of the VX4 and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, expectations surrounding pre-orders and commitments, the features and capabilities of the VX4, the transition towards a net-zero emissions economy, as well as statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate," "will," "aim," "potential," "continue," "are likely to" and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: market conditions and satisfaction of customary closing conditions related to the Offering; our limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; our history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; our potential inability to test, produce, certify or launch aircraft in the volumes or timelines projected, including achieving the targets set out in Flightpath 2030; the potential inability to obtain the necessary certifications for production and operation within any projected timeline, or at all; any accidents or incidents involving eVTOL aircraft could harm our business; our dependence on partners and suppliers for the components in our aircraft and for operational needs; the potential that certain strategic partnerships may not materialize into long-term partnership arrangements; development, testing and commercialization of a hybrid-electric vertical take-off and landing variant of the VX4 is subject to significant risks, including technological, regulatory and operational challenges; all of the pre-orders received are conditional and may be terminated at any time and any pre-delivery payments may be fully refundable upon certain specified dates; the inability for our aircraft to perform at the level we expect and may have potential defects; any potential failure to effectively manage our growth; our inability to recruit and retain senior management and other highly skilled personnel, our ability to raise additional funds when we need or want them, or at all, to fund our operations; our limited cash and cash equivalents and recurring losses from our operations raise significant doubt (or raise substantial doubt as contemplated by PCAOB standards) regarding our ability to continue as a going concern; the fact that we have previously identified material weaknesses in our internal controls over financial reporting which if we fail to properly remediate, could adversely affect our results of operations, investor confidence in us and the market price of our ordinary shares; the fact that our preliminary cash position and predicted cash runway toward the middle of 2026 as a result of this Offering represent management's current estimates and are subject to change; the fact that as a foreign private issuer, we follow certain home country corporate governance rules, are not subject to U.S. proxy rules and are subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 20-F filed with the SEC on March 11, 2025, as such factors may be updated from time to time in our other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law. View source version on Contacts Enquiries please contact:Vertical Aerospace MediaJustin Bates, Head of +44 7878 357 463 Investor RelationsSamuel Emden, Head of Investor +44 7816 459 904 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
NDTV
05-07-2025
- Automotive
- NDTV
Watch: Abu Dhabi Tests First Driverless Air Taxi, Launch Set For 2026
Archer Aviation, a US-based electric air taxi maker, has completed the first test flight of its driverless air taxi in Abu Dhabi, paving the way for commercial services in the UAE by early 2026. The trial was held at Al Bateen Executive Airport as part of plans to introduce urban air mobility to the region. A clip of the test, shared on X (formerly Twitter) by RT, showed the Midnight eVTOL (Electric Vertical Take-Off and Landing) aircraft in flight over the Abu Dhabi skyline. The caption read, 'UAE flies 1st driverless air taxi for commercial launch 'early 2026' and export worldwide. Will you use it?' Watch the clip here: UAE flies 1st driverless air taxi for commercial launch 'early 2026' & export worldwide Will you use? — RT (@RT_com) July 5, 2025 According to a Gulf News report, the trial flight kicks off a testing programme tailored to the UAE's harsh summer conditions, including high temperatures, humidity and dust. Archer's Midnight aircraft, fully electric and emission-free, is designed to handle short-haul urban journeys, such as airport-to-downtown commutes. With vertical take-off and landing capability, the air taxi will reportedly slash travel times, reduce road congestion and offer a quieter and sustainable transportation alternative. The same report noted that Abu Dhabi will serve as Archer's first international launch market. A Khaleej Times report stated that the new technology isn't just for the ultra-wealthy. The report suggested that, contrary to popular belief, air taxis in Abu Dhabi are not being positioned as a luxury-only service, with pricing expected to be affordable for the general public. Abu Dhabi's breakthrough follows a similar success just days earlier in Dubai, where Joby Aviation — another air mobility player — also carried out a test flight on June 30, according to Khaleej Times. The commercial rollout for both services is now pegged for early 2026, with the UAE aiming to become a global hub for flying taxi technology. Another report in the Khaleej Times highlighted the broader potential of eVTOLs beyond urban transport. In the future, these flying taxis could be deployed for search and rescue missions, especially in challenging terrains or during night operations. Locations in the UAE like Wadi Naqab and Jebel Jais, popular with hikers and prone to emergency callouts, could benefit from eVTOLs. These flying taxis can land in tight or remote areas where traditional helicopters may struggle, stated the report.
Mint
02-06-2025
- Business
- Mint
Embraer CEO says in talks with IndiGo, Air India, ‘see lots of opportunities in India' — details
Brazilian multinational aerospace corporation Embraer SA has set up a fully-owned Indian subsidiary in India, and is eyeing opportunities with Air India and IndiGo, CEO Francisco Gomes Neto told PTI in an interview. According to Neto, Embraer sees opportunities in commercial and business jets, military aircraft, and the Electric Vertical Take-Off and Landing (eVTOL) segments in India, the report added. In an exclusive interview to PTI, Neto told the agency that the company is exploring possibility to supply its E195-E2 aircrafts (up to 146 seats depending on the configuration) to Indian aviation giants IndiGo and Air India. He said Embraer will position a procurement team to check opportunities in the Indian supply chain and look at the possibility of procuring components and services from India. The company is hiring people in India for government relations, communications, procurement and engineering, sales and marketing teams, he added. Also speaking to PTI, Raul Villaron, SVP Sales & Marketing and Head of Region for Asia Pacific at Embraer Commercial Aviation also confirmed that talks are on with IndiGo and Air India. 'A majority of the unserved markets in India are either too thin for the narrow-body aircraft or too long for turboprops. So the E2 is right in the sweet spot … The E2 has a very competitive seat cost, which allows us to be more competitive in the Indian market,' Villaron added. 'India is the third largest market in aviation globally... we see a lot of opportunities for us in the future in this market for all the products we have, the different business units, commercial jets, business jets, military aircraft and eVTOLs. That's why we want to really to deepen our collaboration with the country and this step of opening a subsidiary in India,' Neto said. At present, around 50 Embraer aircraft and 11 aircraft types are operating in India across commercial and business aviation, and defence segments. In the civilian aircraft space, Embraer planes are operated by regional carrier Star Air and entities are also using the company's business jets. On whether Embraer will look to set up a MRO (Maintenance, Repair and Overhaul) facility for civilian planes in India, Neto said it will depend on the aircraft orders. In 2024, Embraer Defense & Security and Mahindra Defence Systems signed a MoU to evaluate the opportunity to jointly pursue the Indian Air Force's Medium Transport Aircraft (MTA) programme with the C-390 Millennium. The Embraer aircraft operated by Indian forces include the Legacy 600 aircraft used for the transportation of government officials and VIPs by the Indian Air Force (IAF) and Border Security Force (BSF), and also the Netra AEW&C aircraft based on the Embraer ERJ145 platform operated by the IAF. With respect to business jet segment, Neto said there will be much more opportunities with a few changes in the regulations. Globally, there is an increasing interest in eVTOL (electric Vertical Take Off and Landing) aircraft, which are also seen as a key solution for urban mobility.
