Vertical Aerospace secures financing package of up to $850 million

UK-based electric aviation company Vertical Aerospace said on Monday it has agreed in principle to a financing package of up to $850 million, sending its US-listed shares up over 4% in morning trading.

The ‌company ⁠said it ⁠raised $50 million of equity capital on Monday and expects a further $30 million shortly, positioning it to have about $160 million of working capital in the near term to fund operations through 2026.