Vertical Aerospace, which is in a pending merger with Broadstone Acquisition, announced $205 million in additional financing to support the deal, which values the combined comapnies at $2.2 billion.
Mudrick Capital Management will invest $200 million through convertible senior secured notes. Kouros SA, a firm specializing in investments to decarbonize transport and energy production, will invest $5 million in the PIPE alongside American Airlines, Avolon, Honeywell, Microsoft’s M12 and Rolls-Royce.
As announced in June, the transaction is expected to result in gross proceeds of $394 million. Read more.
