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Business Wire
3 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.
Business Upturn
5 days ago
- Business
- Business Upturn
Spartan Capital Securities, LLC Serves as Placement Agent in Lixte Biotechnology Holdings, Inc.'s $1.5 Million Registered Direct Offering
New York, NY, July 09, 2025 (GLOBE NEWSWIRE) — Spartan Capital Securities, LLC, a premier investment banking firm, is pleased to announce the closing of a $1.5 million registered direct offering for Lixte Biotechnology Holdings, Inc. (NASDAQ: LIXT), in which it served as the exclusive placement agent. Lixte Biotechnology Holdings, Inc., a clinical-stage pharmaceutical company focused on cancer drug development, completed the offering on July 8, 2025. The offering consisted of the sale of an aggregate of 974,026 shares of Common Stock (or Pre-Funded Warrants in lieu thereof). The public offering price per share of Common Stock was $1.54, and $1.53999 per Pre-Funded Warrant, which includes an exercise price of $0.00001. The Company received gross proceeds of approximately $1.5 million. The net proceeds, together with the Company's existing cash, will be used for general corporate purposes and working capital. 'This transaction reflects our continued focus on aligning innovative biotech companies with the strategic capital they need to advance breakthrough therapies,' said John Lowry, CEO of Spartan Capital Securities. 'We are pleased to support Lixte Biotechnology Holdings, LLC in this important stage of their clinical development and look forward to seeing the impact of their work in the oncology space.' Lixte was represented by TroyGould PC, while Spartan Capital Securities was represented by Kaufman & Canoles, P.C. The offering was made pursuant to an effective shelf registration statement on Form S-3 (No. 333-278874) previously filed with and declared effective by the U.S. Securities and Exchange Commission on May 2, 2024. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and available at This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any 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 Spartan Capital Securities, LLC Spartan Capital Securities, LLC is a premier full-service investment banking firm offering a comprehensive range of advisory services to institutional clients and high-net-worth individuals. Known for its expertise in capital raising, strategic advisory, and asset management, Spartan Capital delivers tailored solutions to meet clients' financial goals. For more information, visit About Lixte Biotechnology Holdings, Inc. Lixte Biotechnology Holdings, Inc. is a clinical-stage pharmaceutical company focused on discovering and developing cancer therapies based on novel biological pathways. Its lead compound, LB-100, a first-in-class PP2A inhibitor, has shown promise in enhancing the effectiveness of chemotherapy and immunotherapy. Clinical trials are currently underway for Ovarian Clear Cell Carcinoma, Metastatic Colon Cancer, and Advanced Soft Tissue Sarcoma. For more information, visit Contact: Spartan Capital Securities, LLC45 Broadway, 19th FloorNew York, NY 10006 [email protected]
Business Wire
5 days ago
- Business
- Business Wire
Vertical Aerospace Announces Pricing of Underwritten Public Offering
LONDON--(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 priced its underwritten public offering of $60 million of the Company's ordinary shares at a public offering price of $5.00 per ordinary share (the "Offering'). In connection with the Offering, the Company has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 ordinary shares. The Offering is expected to close on or about July 10, 2025, subject to customary closing conditions. Deutsche Bank Securities and William Blair are acting as joint bookrunners for the 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 Offering is being 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 expected gross proceeds from the Offering, completion and timing of the Offering and the anticipated use of proceeds from the Offering, 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.
Associated Press
5 days ago
- Business
- Associated Press
NeuralBase Announces Beta Preview of BMP AI Workflow Prototype for Fintech Sector
LAS VEGAS, NV - July 9, 2025 ( NEWMEDIAWIRE ) - Neuralbase AI Ltd. (OTC: NBBI), operating under its enterprise brand BMP AI and a growing innovator in enterprise artificial intelligence, today announced the availability of a beta preview of its first intelligent workflow assistant, built on the BMP AI platform and designed specifically for financial technology applications. This version already demonstrates early-stage capabilities in conversational automation, document-based reasoning, and AI-enhanced workflow support. The beta version is part of Neuralbase AI's phased development and feedback strategy focused on building high-trust, document-grounded AI systems for compliance-sensitive industries. 'This beta preview reflects our commitment to building enterprise AI that is secure, explainable, and fully grounded in verifiable documentation,' said Vighnesh Dobale, Chief Executive Officer of Neuralbase AI Ltd. 'While still under active development, this prototype provides an important starting point to gather feedback and validate key use cases within fintech operations.' The current beta allows users to interact with a document-aware chatbot built using BMP AI's proprietary retrieval-augmented architecture, which enables grounded, traceable responses from internal source material. The Company plans to continue refining its interface, security controls, and enterprise integration features ahead of a broader rollout targeted for later this year. This preview is being offered to select early partners, industry participants, and prospective clients for feedback purposes only. Interested parties are encouraged to contact the Company for access, feedback, or collaboration discussions. Additional information about the Company is available at or by visiting About NEURALBASE AI LTD. NeuralBase AI Ltd. (OTC: NBBI) is an AI company developing secure, scalable, and context-aware conversational agents and workflow automation systems. Through its BMP AI platform - now in beta testing - the company enables organizations to streamline internal operations, enhance team collaboration, and increase productivity while maintaining strict compliance and data integrity. Legal Disclaimer and Forward-Looking Statements This press release contains forward-looking statements as defined under Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on current expectations, estimates, projections, and assumptions made by NeuralBase AI Ltd. (the 'Company' or 'NBBI') in light of experience, current conditions, anticipated future developments, and other factors. Forward-looking statements may include words such as 'aims,' 'anticipates,' 'believes,' 'plans,' 'expects,' 'intends,' 'will,' 'may,' 'could,' 'should,' and similar expressions. These statements relate to, among other things, the expected performance and capabilities of the BMP AI platform; the Company's ability to successfully complete product development, enter commercial deployment, or scale its technology; future revenues and market expansion; and general strategic direction. All such statements are inherently uncertain and involve a number of risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statement. NeuralBase AI Ltd. is a fully reporting company with the U.S. Securities and Exchange Commission (SEC) and files annual and quarterly reports, current reports, and other required disclosures. All public filings and disclosures may be reviewed at the SEC's EDGAR database at The Company trades on the OTC Markets under the ticker symbol NBBI. This press release is not, and should not be construed as, an offer to sell or a solicitation of an offer to buy any securities of NeuralBase AI Ltd. in the United States or in any other jurisdiction. Offers and sales of securities, if any, will be made only pursuant to an effective registration statement or valid exemption under the U.S. Securities Act of 1933, as amended. Investing in securities traded on the OTC Markets involves significant risk, including potential loss of principal, low liquidity, high volatility, and limited publicly available information. Shares traded on the OTC Markets may be more susceptible to market manipulation or price swings. Investors are strongly advised to conduct their own due diligence, consult a qualified investment advisor, and carefully review all SEC filings prior to making any investment decision. Media Contact: Vighnesh Dobale Chief Executive Officer [email protected] (727) 314-3717 View the original release on
Yahoo
6 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
