Vertical Aerospace Ltd. (EVTL) Form SCHEDULE 13D/A — Aug 7, 2026
Mudrick Capital filed a Schedule 13D/A on Vertical Aerospace disclosing that its funds purchased roughly 700,000 EVTL ordinary shares at $2.04-$2.26 between June 8 and June 23, 2026, plus about 6.45 million convertible notes at $155.63 and $157.24 per note, and attached a signed $100 million comprehensive financing term sheet dated August 5, 2026.
Key figures
- Debt Amount
- 35000000
- Deal Value Usd
- 100000000
- Board size
- 9
- Common equity usd
- approximately $35 million of newly issued Ordinary Shares
- Financing package
- $100 million comprehensive financing term sheet dated August 5, 2026
- Note purchase prices
- $155.63 (06/26/2026) and $157.24 (07/27/2026) per note
- Preferred equity usd
- $25 million of Series A Convertible Preferred Shares ($1,000 liquidation value per share, convertible at 120% of market-based price)
- Note conversion price
- $1.30 per Ordinary Share
- New option pool shares
- 2767806
- Common equity min price
- $1.00 per Ordinary Share
- Ceo mechanism calc price
- $3.50 per Ordinary Share for note conversions
- Share purchase price range
- $2.04-$2.26
- Definitive agreements target
- August 12, 2026
- Mudrick board seat threshold
- at least one seat while owning >=10%; chairman designation right at >=33%
- Shareholder meeting deadline
- September 15, 2026 (re-submission by January 31, 2027 if not approved)
- Company repurchase multiplier
- 112% of par plus accrued cash interest (until April 20, 2027)
- Additional convertible notes usd
- $35 million (10.00% cash / 12.00% PIK toggle, due December 15, 2030, first-priority lien on substantially all assets)
- Existing option repricing strike
- $1.30 per share
AI analysis
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