Latham & Watkins Represents Vertical Aerospace in US$50 Million in New Funding

Vertical Aerospace [NYSE: EVTL], a global aerospace and technology company pioneering electric aviation, has announced the signing of an investment agreement on December 20, 2024, with Mudrick Capital, the company’s primary creditor, and Stephen Fitzpatrick, its current majority shareholder, following the announcement in November of up to US$50 million in new committed funding as part of a transaction that will strengthen the company’s balance sheet by US$180 million. Vertical is convening an extraordinary general meeting of shareholders on December 23, 2024, to vote upon certain amendments to the company’s memorandum and articles of association, in accordance with the investment agreement.

Latham & Watkins LLP represents Vertical Aerospace, together with a special committee of its board of directors, in the transaction with a corporate team led by London partner David Stewart and London counsel Yoseph Choi, with associates Sarah Youssefi, Summer Xia, and Kaitlyn Wallace. Additional advice on corporate matters was provided by London partner Robbie McLaren; on restructuring matters by London partner Bruce Bell; on finance matters by associate Nicole Courtney; on equity derivatives matters by New York partners Reza Mojtabaee-Zamani and Eric Rice; and on tax matters by London partner Sarah Gadd.