Vertical Aerospace (EVTL) Registration Filing summary

Company overview and business model

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

• Founded in 2016, has developed and flown multiple prototype eVTOL aircraft, with the VX4 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 achieve market leadership by the end of the decade.

Financial performance and metrics

• As of December 31, 2024, reported £22.6 million in cash and cash equivalents and a total capitalization of £2.33 billion.

• Net tangible book value as of December 31, 2024 was $(625.8) million, or $(9.00) per share.

• Subsequent to year-end, issued 15 million additional ordinary shares in a public offering, expected to materially impact capitalization.

Use of proceeds and capital allocation

• Will not receive proceeds from the resale of shares by selling securityholders.

• May receive up to $351.25 million from the exercise of warrants, if exercised for cash.

• Intends to use any warrant exercise proceeds for R&D, expansion of testing and certification, general working capital, and corporate purposes.