Vertical, Air taxi

Air-Taxi Maker Vertical Signs Tentative Funding Deal With Investor, Extends Cash Runway
(Reuters) -UK-based Vertical Aerospace and Mudrick Capital have signed a non-binding term sheet under which the investor will convert half of its outstanding convertible debt to equity and extend the repayment date on the remainder to December 2028, the air-taxi maker said.
Air taxi startup Vertical Aerospace extends runway with $50mn lifeline
The rescue deal comes at a crucial moment for Vertical, which has been burning through cash to bring its VX4 aircraft to market.
Air Taxi Maker Vertical Secures Bailout From Mudrick Capital
Flying taxi startup Vertical Aerospace Ltd. said it had secured as much as $50 million in new funding from Mudrick Capital Management, giving it financial breathing room to test and certify its first model.
Air taxi firm Vertical says Mudrick to convert some notes to equity, extend repayment deadline
By Abhijith Ganapavaram (Reuters) -UK-based Vertical Aerospace said on Monday that investor Mudrick Capital has agreed to convert half of its outstanding convertible debt to equity and extend the repayment date on the remainder to December 2028,
UK air taxi company Vertical Aerospace wins $50mn lifeline from creditor
Vertical has been testing its VX4 vehicle, which will have a range of up to 100 miles, a cruise speed of 150mph and capacity for four passengers. Simpson said the company was committed to bringing its air taxi to market in 2028, describing the timeline as “realistic”.
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