Vertical Aerospace (EVTL) Registration Filing summary

Company overview and business model

• Focuses on designing, manufacturing, and selling zero operating emission eVTOL aircraft for the advanced air mobility market, leveraging aerospace, automotive, and energy technologies.

• Founded in 2016, has developed and flown multiple eVTOL prototypes, with the VX4 flagship model targeting certification in 2028.

• Achieved key milestones including piloted thrustborne flight maneuvers and expanded regulatory approvals in the UK and Europe.

• Launched Flightpath 2030 strategy to drive market leadership through innovation, partnerships, and safety.

Financial performance and metrics

• As of September 30, 2024, cash and cash equivalents were £42.8 million, with a total shareholder deficit of £55.3 million.

• Subsequent events include a $130 million partial conversion of convertible notes and a public offering of 15 million shares at $6.00 per unit.

• Material uncertainty exists regarding ability to continue as a going concern due to limited cash, recurring losses, and dependency on raising additional capital.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling securityholders; proceeds from warrant exercises, if any, would be used for general corporate purposes.

• Selling securityholders bear their own selling costs; company covers registration and related expenses.