Vertical Aerospace Shares Rise 11% After Investment Agreement

Dow Jones

Dec 24, 2024

By Stephen Nakrosis

Shares of Vertical Aerospace were trading higher in the after-hours market following news the company secured an investment agreement with Mudrick Capital Management.

The deal calls for Mudrick Capital to commit up to $50 million of new funding. Mudrick also converted $130 million debt into equity at a fixed conversion price, Vertical Aerospace said.

After the bell, shares of Vertical Aerospace were trading 11% higher, at $8.25. The stock ended Monday's regular session with a loss of just under 6%, closing at $7.42.

Year to date, the stock is up about 7.8%.

Vertical Aerospace makes the VX4, a piloted, four-passenger, electric vertical take-off and landing aircraft.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 23, 2024 17:44 ET (22:44 GMT)

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Mudrick also converted $130 million debt into equity at a fixed conversion price, Vertical Aerospace said. \n\n\n  After the bell, shares of Vertical Aerospace were trading 11% higher, at $8.25. The stock ended Monday's regular session with a loss of just under 6%, closing at $7.42. \n\n\n  Year to date, the stock is up about 7.8%. \n\n\n  Vertical Aerospace makes the  VX4, a piloted, four-passenger, electric vertical take-off and landing  aircraft. \n\n\n \n\n\n  Write to Stephen Nakrosis at stephen.nakrosis@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 23, 2024 17:44 ET (22:44 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}