Key facts
- Vertical Aerospace is seeking a $100 million capital injection.
- The company is in talks with US hedge fund investor Jason Mudrick.
- Founder Stephen Fitzpatrick is negotiating the deal.
- The capital injection is intended to address cash shortages.
- The deal may result in Stephen Fitzpatrick losing control of Vertical Aerospace.
- Vertical Aerospace is a UK flying taxi maker.
Vertical Aerospace, a UK-based company developing electric vertical take-off and landing (eVTOL) aircraft, is actively seeking a $100 million capital injection. The company is reportedly in discussions with US hedge fund investor Jason Mudrick to secure this funding. The primary motivation for this capital raise is to address existing cash shortages that the company is currently facing. Founder Stephen Fitzpatrick is personally involved in the negotiations with Mudrick. A significant outcome of this potential deal could be the loss of control over Vertical Aerospace for its founder, Stephen Fitzpatrick. The company's financial situation necessitates this urgent funding to continue its operations and development of its flying taxi technology.