Reported about 5 hours ago
Vertical Aerospace announced that Mudrick Capital will convert half of its convertible debt into equity and extend repayment deadlines to December 2028, offering much-needed financial relief for the air taxi company. Mudrick also committed $25 million in initial funding for the next equity round, helping extend Vertical's cash runway as it grapples with regulatory challenges and market skepticism surrounding eVTOL safety.
Source: YAHOO