Vertical Aerospace has confirmed the closing of its comprehensive $850 million financing package, which provides what the UK-based electric vertical takeoff and landing aircraft (eVTOL) developer describes as enough capital to fund its Valo aircraft through to certification and eventual commercialization.

The deal, first introduced on March 30 as an $800 million agreement in principle alongside a completed $50 million equity capital raise, has now been executed following the signing of definitive agreements on April 19 with its financing partners, Mudrick Capital Management and Yorkville Advisors Global.

The announcement comes days after Vertical’s first full-scale piloted two-way transition flight on April 16, which CEO Stuart Simpson described as a major de-risk moment for Vertical. In late March, the company warned of limited runway, a concern the financing now directly addresses.

The comprehensive financing package comprises three components. The first is a maturity extension of existing convertible secured notes held by Mudrick Capital, that means the firm has pushed back the deadline, from December 2028 to December 2030, on money it is already owed; a timeline Vertical says is deliberately set after its planned 2028 certification date and first commercial deliveries, while also purchasing up to $50 million more.

The second component is a Series A Convertible Preferred Equity facility of up to $250 million from Yorkville Advisors, which, in simple terms, is a type of investment that can later convert into company shares. The third is an equity line of credit of up to $500 million over 36 months, also by Yorkville Advisors. Vertical said it retains the flexibility to access other capital sources outside the package should it choose to do so.

With the closing of the package, Vertical will have approximately $160 million of working capital in the near term, and has initially drawn down an aggregate of $30 million under the facilities.

Mark Angelo, Founder and President of Yorkville Advisors, said in a statement that his firm was “pleased to support Vertical Aerospace as it advances toward certification and commercialisation,” adding that the company had “demonstrated strong execution against all valuation metrics.”

Beyond the transition flight, the package will fund public flight demonstrations, expansion of the Vertical Energy Center, and commencement of production of the first full-scale Valo certification aircraft. Vertical’s Valo is designed to carry passengers with zero operating emissions, covering up to 100 miles at speeds of up to 150 mph. The company holds approximately 1,500 pre-orders from customers including American Airlines, Japan Airlines, and Avolon.

The financing addresses concerns raised by Vertical’s Full Year 2025 results, in which the company ended the year with roughly $93 million in cash against projected 2026 spending of close to $200 million. The $850 million package directly closes that gap, giving the company a stated runway through its targeted 2028 certification date.