Vertical Aerospace Ltd. (EVTL) Form 6-K — Aug 10, 2026

$EVTLForm 6-KFiled Aug 10, 2026, 6:15 AM ET0001104659-26-092942Original filing

Vertical Aerospace entered into a non-binding $100 million comprehensive financing term sheet dated August 5, 2026 with Mudrick Capital and Yorkville Advisors, under which the company will accelerate the issuance of $35 million of additional convertible secured notes and issue $25 million of Series A convertible preferred shares.

Key figures

Debt Amount: $35 million of additional Convertible Senior Secured Notes (up to $50 million aggregate capacity under the note purchase agreement)
Cash Position: $66 million (approximately £50 million) as of June 30, 2026
Interest Rate: 10.00% cash / 12.00% PIK (payable semi-annually)
Maturity Date: December 15, 2030
Shares Outstanding: 138390307
Preferred issuance: $25 million of Series A convertible preferred shares to Yorkville
New conversion price: $1.30
Common equity offering: approximately $35 million of ordinary shares at a minimum price of $1.00 per share
Prior conversion price: $3.50
Total financing package: $100 million comprehensive financing term sheet
Company repurchase premium: 112% of par plus accrued interest until April 20, 2027
Preferred liquidation value: $1,000 per preferred share
New management option pool shares: 2767806
Yorkville preferred facility capacity: $250 million over 24 months in tranches up to $25 million

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