FutureFlight
Vertical Founder Pledges $50 Million To Sustain Work on VX4 eVTOL Aircraft
The UK start-up has been put on notice by the New York Stock Exchange that its stock must start trading above $1 to maintain its listing
Vertical Aerospace's VA-X4 eVTOL aircraft will carry four passengers.
Vertical Aerospace is preparing to start flight testing a second VX4 eVTOL prototype aircraft that will have more advanced technology than the first example. (Image: Vertical)

Vertical Aerospace’s founder and CEO, Stephen Fitzpatrick, is making a further $50 million investment in the UK start-up to sustain its work on the VX4 four-passenger eVTOL aircraft. Announcing the move on Monday, the New York Stock Exchange-listed company said the capital will be provided in a first tranche of $25 million for shares priced at $10 that is set to close by March, and then in a second payment of $25 million at a share price to be determined by July 31.

According to Vertical, the fresh funding will provide sufficient cash to support the program into the second quarter of 2025. The company said it is in discussions with other prospective sources of capital as it prepares to start flight testing a second VX4 prototype in the next few months.