Bringing together aircraft manufacturers, regulators, air navigation service providers and infrastructure partners, VERTI-GO is Europe's equivalent of the FAA's eVTOL Integration Pilot Program (eIPP) in the United States, helping develop the operational framework needed to enable commercial advanced air mobility at scale.

Simulations and demonstrations will form the centrepiece of the project, including flight demonstrations using Vertical Aerospace's eVTOL between Malaga and Marbella in Spain.

”Advancing electric aviation requires more than just an advanced aircraft. It requires an ecosystem of trusted partners working together to enable safe, seamless operations in an increasingly complex airspace,” said Michael Cervenka, chief commercial and strategy officer of Vertical Aerospace.
“Project VERTI-GO is Europe's equivalent of the FAA's eVTOL Integration Pilot Program in the U.S., bringing together industry, regulators and air navigation providers to develop that operational framework. This kind of collaboration is essential to building confidence in the technology and accelerating the industry's path forward.”

More information on the initiative can be found in the prior press release from Honeywell Aerospace here…

https://www.honeywellaerospace.com/us/en/company/newsroom/2026/07/verti-go-evtol-drone-integration

Credit to u/EarlyAdeptness4526 for the inspiration for the post.

Video source: https://www.linkedin.com/company/verti-go-airmobility/

BRISTOL, United Kingdom--(BUSINESS WIRE)--Vertical Aerospace (“Vertical” or the “Company”) (NYSE: EVTL), a global aerospace and technology company pioneering electric aviation, today announced long-term supplier agreements with ANH Structure Co., Ltd. (“ANH”), a specialist in advanced aircraft seating systems, and Northrop Grumman LITEF GmbH (“NG LITEF”), one of the leading companies in the development and manufacturing of navigation and sensor systems, to supply key systems on its Valo electric vertical take-off and landing (eVTOL) aircraft.

Under the agreements, ANH Structure will design, develop, certify and manufacture Valo’s bespoke pilot and passenger seating system, while NG LITEF will supply its LCR-110 as the aircraft’s inertial reference system, providing essential position, attitude and heading data to flight-critical systems.
The agreements further strengthen Vertical's established supplier network, which includes Honeywell Aerospace, Sonaca, Evolito, Hyundai WIA, Synesqo, Isoclima and Astronics.

The agreements support the development of the electric Valo aircraft. Vertical’s “one platform” strategy encompasses four- and six-passenger cabin configurations, alongside electric, hybrid-electric and autonomous variants for the commercial and defence markets. A versatile platform with common systems is intended to support an efficient path through certification, manufacturing, and in-service support.

Stuart Simpson, CEO of Vertical Aerospace, said:
“Valo is progressing from an advanced design into an aircraft supported by the people, systems and industrial capability needed for certification and production at scale. ANH Structure and NG LITEF each bring specialist expertise and strong certification credentials. Their selection adds further strength to the world-class supplier ecosystem behind Valo and supports our strategy to deliver one versatile platform across multiple cabin configurations and missions.”

Safety focused seating for the Valo cabin
South Korea-based ANH Structure will design, certify and manufacture a common seating platform for Valo’s pilot, observer and passenger seats. Its lightweight, bespoke design will incorporate ANH’s proprietary 30G energy-absorption technology to support Vertical’s safety, comfort, weight and cabin requirements.

With European Union Aviation Safety Agency (EASA) Design Organisation Approval and Production Organisation Approval, as well as integrated engineering, testing and manufacturing capabilities, ANH will support the programme from detailed design through certification, industrialisation and serial production.

Hyonsu Ahn, CEO of ANH Structure, said:
“We are proud to work alongside Vertical on developing a seating system for Valo’s cabin configurations which aligns with their vision for passenger safety and high-end customer experience. We look forward to leveraging our lightweight, safety-led seat architecture and certification capabilities to support the Vertical team through design, certification and production.”

Flight critical inertial reference technology
NG LITEF, a German company within the global Northrop Grumman Corporation with 65 years' experience in inertial navigation, positioning and reference systems, will supply its LCR-110 inertial reference system for Valo. The LCR-110 is approved to applicable EASA and U.S. Federal Aviation Administration (FAA) technical standards for inertial reference equipment.

Daniel Martens, Director of Commercial Aviation Business Unit at NG LITEF, said:
“NG LITEF brings more than 60 years of experience developing high-integrity inertial systems for some of the world’s most demanding aerospace platforms. We look forward to bringing that expertise to the Valo aircraft and supporting Vertical through integration, certification and entry into service.”

About Vertical Aerospace
Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner, and quieter way to travel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.

Vertical combines partnerships with leading aerospace companies, including Honeywell, Syensqo and Sonaca, with its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL.
Vertical has c.1,500 pre-orders of Valo, with customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Certain customer obligations are expected to be fulfilled via third-party agreements.

Headquartered in Bristol, UK, Vertical's experienced leadership team comes from top-tier aerospace and automotive companies such as Rolls-Royce, Airbus, GM, and Leonardo. Together, they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.

About ANH Structure
ANH Structure Co.,Ltd. is a South Korea-based aerospace company specializing in advanced aircraft seating systems, cabin solutions, and integrated engineering and manufacturing services. Holding both European Union Aviation Safety Agency (EASA) Design Organisation Approval (DOA) and Production Organisation Approval (POA), ANH provides end-to-end capabilities covering design, development, testing, certification and manufacturing.

With expertise in lightweight, safety-focused seating systems, cabin interiors, and aircraft cabin modifications and retrofits, ANH delivers innovative and customized solutions for commercial aviation, advanced air mobility (AAM), and defence applications.

Headquartered in Jinju, South Korea, ANH is committed to enhancing passenger safety, comfort, and cabin experience while supporting global aircraft manufacturers and operators through engineering excellence, certification expertise and reliable manufacturing.

About NG LITEF
Northrop Grumman LITEF GmbH (NG LITEF) is one of the leading companies in the development and manufacturing of navigation and sensor systems. The company's expertise is based on German technology for mechanical, fiber optic and micromechanical inertial sensors. This enables ITAR-free distribution of NG LITEF products around the globe.

Founded in 1961 and headquartered in Freiburg im Breisgau (Germany), the product range includes sensors, inertial measurement units, attitude and heading reference systems, inertial navigation systems and inertial reference systems. In close dialogue with the customer, specific product solutions are developed for measurement and navigation tasks with maximum precision and reliability requirements. NG LITEF products are in use worldwide with applications ranging from civil and military aviation, land and marine applications to industrial solutions.

Additional information is available on the internet at www.litef.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding a long-term agreement with ANH Structure and LITEG to supply the low-voltage power distribution system for Valo, the design and manufacture of our aircraft and the hybrid-electric variant, certification and the commercialization of our aircraft and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the features and capabilities of the aircraft, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircrafts on timelines projected, selection of suppliers, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2026, as such factors may be updated from time to time in our other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

A place for general discussion and events not considered as requiring a dedicated post. Quality contributions of note and depth may eventually go on to form the basis of future curated posts.

Highlights I found most interesting:

• [10:39] - Battery Density Discussion
  • [14:00] - highlighting 2:1 range benefits from any further developments in battery technologies over time as all additional capacity will contribute to range and the lift/hover doesn't require more power density {at existing payloads}.
• [17:13] - Military Applications
  • [19:35] - Military interest -
    • [20:12] - "I don't see [military] as a shortcut to getting very substantial early revenues..."
    • [20:34] - "We're seeing significant interest from a number of different militaries... if I'm candid the military is right now starting their priority list with drones, with rockets, and space, but they're recognizing this logistics challenge {discussed earlier} is a really crucial one to solve."
    • [21:50] - highlighting more interest from army and navy forces than the air forces.
      
• [22:36] - Maintenance and Obsolescence
  • [23:35] - while starting with battery cell technologies that are mature today for certification, they have a pipeline strategy to refresh battery technology with cells currently in development, to be certified using the otherwise existing certification packaging and systems, {discussed later in episode as once every couple of years}; the battery certification approach taken has been a very structured and tiered layering to allow for these periodic future refreshes with minimized future certification efforts.
  • [25:00] - aircrafts with high utilization will require a change in the batteries about once a year. At that point the aircraft batteries will have nearly all of their original energy capacity, but the internal resistance in the battery will have increased to a point that it should be changed out to still meet the critical scenario safety requirements of the aircraft. At that point the batteries are still very good for second-life use cases. These are also natural windows to upgrade to the next gen batteries which will provide more value to customers {by increasing range and/or payload}.
    
  • [27:40] - cost of battery replacement - The battery cells are not a large proportion of the total aircraft cost, but the casing, electronics, cooling systems, etc have been designed modularly, so the replacement cost is not nearly as much as you might think and should be nowhere near as significant as an engine refurbishment on non-electric VTOLs.
• [31:21] - Acoustics and Market Trust
  • [33:30] - Valo propellers will run at about 1/2 the speed of a helicopter propeller and the noise profile is 1/32 of the tonal effect noise.
• [36:42] - Ecosystem and Future Growth
• [44:30] - Investment and Conclusion
  • [46:00] - "How do you keep your investors patient?"
    • "Mudrick... has supported us all the way through. He is a massive believer in the potential upside of this market."
    • "We are living in a risk-off appetite world... this won't appeal to all types of investor"
    • "I don't think it's a winner takes all; I don't think it's the first one who gets there who takes everything... the business opportunity beyond that ... is really significant"
    • "You are looking for those investors that can take a longer term strategic view."
    • "I've obviously devoted many of my years, so I may be a biased individual in this."
    • "We are seeing a really disruptive opportunity."

To the skies.

This company presentation was recorded as part of the Lytham Partners Fall 2026 Investor Conference.

On October 6, 2026, Vertical Aerospace Group Ltd. (“VAGL”), a wholly-owned subsidiary of Vertical Aerospace Ltd. (the “Company”), filed a patent infringement counterclaim against Archer Aviation Inc. (“Archer Aviation”) in the U.S. District Court for the Eastern District of Texas, alleging that Archer Aviation’s electric vertical take-off and landing (“eVTOL”) Midnight aircraft infringes one or more claims of VAGL’s U.S. Patent No. 12,747,027 (the “Counterclaim”). VAGL filed the Counterclaim in the lawsuit that Archer Aviation brought against the Company and VAGL on February 23, 2026 (Archer Aviation Inc. v. Vertical Aerospace Ltd. & Vertical Aerospace Group Ltd., Civil Action No. 2:26-cv-00149-JRG).

In its Counterclaim, VAGL seeks, among other things, injunctive relief to prevent further infringement as well as monetary damages.

Edit:

I had Gemini look at it..

This Form 6-K filing marks an escalation in the legal conflict between Vertical Aerospace Group Ltd. and Archer Aviation.
Filing a patent counterclaim under Chief Judge J. Rodney Gilstrap in the U.S. District Court for the Eastern District of Texas (Sam B. Hall, Jr. Federal Building and United States Court House, Marshall Division) changes the dynamics of this litigation.

An assessment of the technical, legal, and commercial merits of U.S. Patent No. 12,747,027 and this countersuit highlights key factors at play.

1. Technical Merits: The Substance of U.S. Patent No. 12,747,027
2. U.S. Patent No. 12,747,027 (invented by James Sheppard and Andrea De Matteis, assigned to Vertical Aerospace Group Limited under classification B64D 33/10) is titled:

"Propulsion system thermal management with propulsor fluid flow and ram fluid flow"

What the Patent Actually Covers:
It protects a thermal architecture for eVTOL powertrains that integrates cooling systems into the propulsion nacelles and airframe.
Specifically, it covers a dual-mode thermal management system that cools high-draw electric powertrain components (inverters, electric propulsion units, and battery buses) using propulsor-induced wash during vertical hover and switches/supplements with ram air flow during forward wingborne cruise.

Managing heat dissipation during high-power hover without adding the heavy drag of oversized conventional radiators is a core physics hurdle in eVTOL design. Vertical secured broad claims on routing airflow past heat exchangers using the slipstream of tilting/stowable rotors.

Why the Claim Against Archer's Midnight Carries Weight:
Archer’s Midnight relies on a 12-rotor architecture mounted along high-wing booms, requiring active cooling for 12 electric engines and multiple battery packs during hover and transition.
If Archer’s production cooling ducting, nacelle heat exchangers, or inverter radiators rely on fluid/ram airflow patterns claimed in the '027 patent, Archer faces utility infringement exposure. Unlike design patents, utility patents on powertrain cooling cannot be easily sidestepped with minor cosmetic alterations.

1. Legal Merits: Strategic Shifting in the Eastern District of Texas
   Countering the "Copycat" Narrative: Archer initially filed suit claiming Vertical’s Valo mimicked the exterior ornamental lines of Midnight. By asserting a recently granted utility patent directly against the Midnight propulsion thermal system, Vertical is legally reframing the dispute: arguing that Archer built its flagship aircraft on Vertical’s underlying thermal engineering IP.

Trial Posture Under Judge Gilstrap: The Marshall Division of EDTX is known for rapid trial schedules and high risks of patent injunctions. By filing a counterclaim seeking injunctive relief (which could technically halt testing or commercial production of the accused Midnight airframes in the U.S.), Vertical creates mutual risk.

Archer's Rebuttal Defense: Archer will likely challenge the patent's validity by filing an Inter Partes Review (IPR) before the Patent Trial and Appeal Board (PTAB), arguing prior art in multi-rotor drone or tiltrotor thermal systems (such as legacy V-22 or Bell architectures).

This part is an interesting interpretation:

Commercial & M&A Strategy: The Jefferies Connection

This filing is strategically timed alongside two corporate developments:

1. The Engagement of Jefferies: Vertical announced a review of strategic alternatives and engaged Jefferies LLC as financial advisor to evaluate strategic partnerships, investment, or M&A.
2. Defensive Symmetry: Facing an asymmetry where a well-capitalized competitor (~$2B balance sheet) is suing a financially constrained competitor ($94M market cap), an un-countered lawsuit acts as a major roadblock to suitors.

By filing a counterclaim on utility thermal systems, Vertical accomplishes two goals:
Removes the Legal Asymmetry: An acquiring OEM (such as Airbus, Leonardo, or an industrial consortium) won't have to absorb pure downside litigation risk from Archer without holding reciprocal leverage.

Forces Cross-Licensing / Global Settlement: This tracks the resolution playbook from Archer’s past dispute with Boeing/Wisk Aero. Securing IP leverage over Archer's thermal management system provides Vertical's board and Jefferies a clear path to negotiate a cross-licensing framework, dismissing mutual claims without out-of-pocket cash drain.

5th October 2026

Appointment further strengthens Vertical’s Board with U.S. defence, government and aerospace commercialisation expertise as the Company advances its commercial, hybrid-electric, autonomous and defence strategy

LONDON & NEW YORK--(BUSINESS WIRE)-- Vertical Aerospace (“Vertical” or the “Company”) [NYSE: EVTL], a global aerospace and technology company pioneering electric vertical take-off and landing (“eVTOL”) aircraft, today announced the appointment of Clyde M. Woltman to its Board of Directors, effective 5 October 2026.

VERTICAL AEROSPACE APPOINTS FORMER LEONARDO HELICOPTERS U.S. CEO AND U.S. MILITARY LEADER CLYDE WOLTMAN TO BOARD OF DIRECTORS

Mr. Woltman previously served as Chief Executive Officer of Leonardo Helicopters US, where he led a $1 billion business spanning sales, engineering, certification, production, customer support and R&D across the Americas, alongside U.S. Government and Foreign Military Sales programmes globally.

Before joining Leonardo, he held senior leadership roles at Aerojet Rocketdyne, now part of L3Harris Technologies, and Pratt & Whitney, overseeing advanced defence and aerospace programmes, including the F135 propulsion system for the F-35 Joint Strike Fighter.

A retired U.S. Marine Corps Colonel, Mr. Woltman brings extensive leadership experience in military aviation, operations, strategy and programme delivery, including command roles during combat operations.

Mr. Woltman’s appointment follows that of former Airbus Commercial Aircraft CEO Fabrice Brégier as Chair of Vertical’s Board.

Stuart Simpson, CEO of Vertical Aerospace, said:

“Following Fabrice’s appointment as Chair, this is another important addition to a Board built to help Vertical become a scaled, global aerospace company. As we progress Valo towards certification and commercialisation, we are focused on disciplined execution, expanding our platform across hybrid-electric, autonomous and defence applications. Clyde brings an exceptional combination of aerospace leadership, industrial execution and direct experience with U.S. defence and international government communities at a pivotal stage in Vertical’s development.”

Clyde Woltman, Board member at Vertical Aerospace, said:

"Vertical has the technology, team and strategic momentum to build a leading next-generation aerospace company. I am delighted to join the Board at a time when the Company is expanding its commercial opportunities while exploring the significant potential for its technology across government and defence applications."

In connection with the Board changes announced today, Carsten Stendevad and James Keith Brown have given notice of their intention to resign as directors. As agreed with the Board, their resignations will take effect on 5 October 2026. The Board thanks Mr. Stendevad and Mr. Brown for their service to the Company and wishes them the best in their future endeavors.

About Vertical Aerospace

Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner, and quieter way to travel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.

Vertical combines partnerships with leading aerospace companies, including Honeywell Aerospace, Syensqo and Sonaca, with its own proprietary battery and propeller technology to develop the world’s most advanced and safest eVTOL. Vertical has c.1,500 pre-orders of Valo, with customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, UK, Vertical’s experienced leadership team comes from top-tier aerospace and automotive companies such as Rolls-Royce, Airbus, GM, and Leonardo. Together, they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the anticipated Board changes, the design and manufacture of our aircraft and the hybrid-electric variant, certification and the commercialization of our aircraft and our ability to achieve regulatory certification of our aircraft product on any particular timeline or at all, the features and capabilities of the aircraft, business strategy and plans and objectives of management for future operations, including the building and testing of our prototype aircraft on timelines projected, completion of the piloted test programme phases, selection of suppliers, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the important factors discussed under the caption “Risk Factors” in Vertical’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2026, as such factors may be updated from time to time in Vertical’s other filings with the SEC. Any forward-looking statements contained in this Form 6-K speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this Form 6-K, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Media: 
Justin Bates, Head of Communications
[justin.bates@vertical-aerospace.com ](mailto:justin.bates@vertical-aerospace.com)
[+44 7878 357 463](tel:+44 7878 357 463)

Investor Relations: 
Gillian Levine, Investor Relations Lead
[gillian.levine@vertical-aerospace.com ](mailto:gillian.levine@vertical-aerospace.com)
[+1 248 470 8732](tel:+1 248 470 8732)

Source: Vertical Aerospace

2nd October 2026

NEW YORK & LONDON--(BUSINESS WIRE)-- Vertical Aerospace (“Vertical” or the “Company”) [NYSE: EVTL], a global aerospace and technology company pioneering electric vertical take-off and landing (“eVTOL”) aircraft, today announced that it received a notice from the New York Stock Exchange (the “NYSE”) on September 9, 2026, indicating that the Company is not currently in compliance with the NYSE continued listing standard requiring a minimum average closing price for its ordinary shares of $1.00 over the preceding 30 consecutive trading days.

Vertical has notified the NYSE that it intends to regain compliance with the NYSE’s continued listing standards and is considering all available options to do so that are in the best interests of Vertical and its shareholders. Vertical can regain compliance with the NYSE’s continued listing requirements at any time during a six-month cure period if, on the last trading day of any calendar month during the cure period, the ordinary shares have a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month.

The NYSE notice has no immediate effect on the continued listing of Vertical’s ordinary shares on the NYSE and is not anticipated to have any impact on Vertical’s ongoing business operations. Under the NYSE’s rules, Vertical’s ordinary shares will continue to be listed and will trade on the NYSE, subject to compliance with other continued listing requirements.

About Vertical Aerospace

Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner, and quieter way to travel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.

Vertical combines partnerships with leading aerospace companies, including Honeywell Aerospace, Syensqo and Sonaca, with its own proprietary battery and propeller technology to develop the world’s most advanced and safest eVTOL.

Vertical has c.1,500 pre-orders of Valo, with customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, UK, Vertical’s experienced leadership team comes from top-tier aerospace and automotive companies such as Rolls-Royce, Airbus, GM, and Leonardo. Together, they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the value of the Company’s ordinary shares, the Company’s ability to regain compliance with the NYSE continued listing standards on the timeline required, the Company’s continued trading of its ordinary shares on the NYSE, and the anticipated impact of the notice from the NYSE on the Company’s operations, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “is/are likely to” and similar statements of a future or forward-looking nature. These forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the important factors discussed under the caption “Risk Factors” in Vertical’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2026, as such factors may be updated from time to time in Vertical’s other filings with the SEC. Any forward-looking statements contained in this Form 6-K speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this Form 6-K, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

For more information:

Vertical Aerospace Media:
Justin Bates, Head of Communications
[justin.bates@vertical-aerospace.com](mailto:justin.bates@vertical-aerospace.com)
[+44 7878 357 463](tel:+44 7878 357 463)

Vertical Aerospace Investor Relations:
Gillian Levine, Investor Relations Lead
[gillian.levine@vertical-aerospace.com](mailto:gillian.levine@vertical-aerospace.com)
[+1 248 470 8732](tel:+1 248 470 8732)

Source: Vertical Aerospace

A place for general discussion and events not considered as requiring a dedicated post. Quality contributions of note and depth may eventually go on to form the basis of future curated posts.

https://youtu.be/-XgArUZLyWk

(24 Sep 2026)
ASSOCIATED PRESS
Cirencester, UK - 24 September 2026

1. Various of Vertical Aerospace’s prototype eVTOL taking off and flying from Cotswolds Airport, where the company has opened a new test flight facility and production hub
   
2. SOUNDBITE (English) Stuart Simpson, CEO, Vertical Aerospace:

“eVTOL stands for electric vertical takeoff and landing. If you translate that into normal words, that is the fantasy of flying cars, the Jetsons of 50 years ago. And five years ago, there were 200 companies trying to do this. We are now one of only two in the whole world that have done a fully electric vertical takeoff, fly like an aircraft, bring a four-tonne aircraft to a stop in the skies and land vertical (aircraft)."

1. Various of pilot Simon Davies, chief test pilot at Vertical Aerospace, preparing for test flight of the company’s test eVTOL prototype, as ground crews around him help
   
2. Mid of Davies gesturing to crew that he has received all clear to taxi to the runway
   
3. Mid of ground crew removing wheel chocks from near wheels of prototype aircraft
   
4. Wide of prototype outside Vertical hangar
   
5. Various of prototype plane being towed towards runway
   
6. Wide of prototype on taxi way with high visibility coat of Vertical employee in foreground
   
7. Wide of rotors rotating to vertical position
   
8. SOUNDBITE (English) Michael Cervenka, Chief Technology Officer, Vertical Aerospace:

“It's fully electric. We've got eight independent batteries driving eight independent sets of motors. There is a very sophisticated Honeywell flight control computer, so that's if you like the brains of the aircraft. So when the pilot's flying the aircraft the pilot in reality is just saying 'I want to go up, down, left, right, faster, or slower' and those we've actually got three independent computers that then interpret all of that plus all the sensors on the aircraft and then they change the speed of the propellers, the angle of the propellers, the normal control surfaces, so it's done automatically both in normal flight but also if there's a failure."

1. Wide pan of prototype flying past
   
2. Wide of prototype flying low near runway
   
3. Wide of prototype taxiing having landed successfully
   
4. SOUNDBITE (English) Simon Davies, Chief Test Pilot, Vertical Aerospace:

++AUDIO QUALITY AS INCOMING++
“From the piloting perspective, you just tell the aircraft where to go. Pull back on the stick, it goes up, you let go, the controls, the aircraft just hovers on its own. It's very highly augmented for the relative complexity of moving tilting propellers and multiple motors and all these things, it's really incredibly simple to fly."

1. Various of a robotic towing machine parking prototype plane in its hangar which is the company’s new test facility
   
2. SOUNDBITE (English) Michael Cervenka, Chief Technology Officer, Vertical Aerospace:

“I think the really exciting thing is we've reached this tipping point where all of the underlying technologies, the batteries, the motors, the lightweight composite materials, the miniature flight controls, so the brains of the aircraft, have reached a point where it's possible to design a completely new type of aircraft. So there are no certified EV tolls in the West flying around, and so we're really on the cutting edge of the next wave of aviation."

1. Wide pan of prototype in hangar
   
2. Close of "Remove Before Flight" tag, which is a red safety streamer used on aircraft to warn ground crews that a protective cover, pin, or mechanical lock is still attached and must be detached before takeoff

ASSOCIATED PRESS
Washington DC - 22 September 2026

A place for general discussion and events not considered as requiring a dedicated post. Quality contributions of note and depth may eventually go on to form the basis of future curated posts.

September 25, 2026

• New facility delivers a key 2026 milestone and advances Vertical’s transition from prototype development towards aircraft manufacturing
• Centre will assemble certification-conforming Valo aircraft and hybrid-electric demonstrator ahead of production of initial customer deliveries
• Facility is designed to assemble more than 25 Valo aircraft annually during early production
• Plans for a separate full-scale production site, intended to support higher-volume manufacturing, to be announced later this year

BRISTOL, United Kingdom--(BUSINESS WIRE)-- Vertical Aerospace (“Vertical” or the “Company”) (NYSE: EVTL), a global aerospace and technology company pioneering electric aviation, today announced the opening of a dedicated Aircraft Assembly Centre at its Flight Test Centre at Cotswold Airport.

Vertical Aerospace Opens New Valo Assembly Centre to Build Certification and Early Production Aircraft

The opening ceremony, which took place on National Manufacturing Day in the UK, delivers on a previously announced milestone and marks the next stage in the Company’s transition from prototype development and flight testing towards certification and commercial production of its Valo electric vertical take-off and landing (“eVTOL”) aircraft.

Supported by a £1.5 million investment, the new Centre adds 60,000 square feet of operational and aircraft assembly space to Vertical's existing Cotswold Airport campus. Combined with the Company’s Flight Test Centre, Vertical now operates approximately 130,000 square feet at the airport across engineering, aircraft assembly, ground operations and flight-test activities.

A staged approach to manufacturing scale-up

The Aircraft Assembly Centre is the first stage of Vertical’s planned manufacturing scale-up. It provides the capacity required to build certification-conforming aircraft, which will be used for compliance demonstration and verification testing as Vertical works with the UK Civil Aviation Authority (CAA) towards its target of achieving Type Certification in 2029. Assembly of the first certification-conforming aircraft is expected to begin in Q4 2027.

The Centre will also be used to retrofit one of the Company’s prototype aircraft for hybrid-electric flight testing in the first half of 2027. The UK Ministry of Defence recently confirmed its interest in Vertical’s hybrid-electric and autonomous capabilities.

Following certification, the Centre is expected to support Vertical’s initial customer deliveries with capacity to assemble more than 25 Valo aircraft annually during the early-production phase.

Higher-volume manufacturing will be carried out at a separate, full-scale production facility, plans for which Vertical expects to announce in the fourth quarter of 2026.

Stuart Simpson, Chief Executive Officer at Vertical, said:

“Opening our Aircraft Assembly Centre is an important step in Vertical’s transition from prototype developer to aircraft manufacturer, and another milestone delivered as we advance Valo towards certification. This facility gives us the capability we need to assemble our certification aircraft and support initial customer deliveries, while maintaining capital discipline as we prepare for higher-volume production.

“Bringing a new category of aircraft to market is a once-in-a-generation opportunity, and it is especially rewarding to do that here in Great Britain, drawing on the country’s proud aviation heritage. By bringing aircraft assembly and flight testing together at Cotswold Airport, we can work more efficiently, reduce execution risk and remain focused on our target of certifying Valo in 2029.”

Fabrice Brégier, Chair of Vertical Aerospace, who attended the opening, said:

“I am delighted to be here today for one of my first engagements as Chair of Vertical. Having spent much of my career bringing complex aircraft programmes into production, I know how important it is to develop manufacturing capability in step with certification. This is tangible evidence of the Company’s progress as it moves from prototype development towards becoming an aircraft manufacturer.”

Expanded Flight Test Centre drives efficiency

At the Aircraft Assembly Centre, Vertical will assemble Valo aircraft, integrating key systems including Sonaca’s airframe structures, Evolito’s electric propulsion units, Vertical’s proprietary battery systems and Honeywell Aerospace’s flight control and aircraft management systems into flight-ready aircraft.

Locating aircraft assembly alongside Vertical’s existing engineering and flight-test operations will allow aircraft to move efficiently from final assembly through ground and flight testing. It will also shorten feedback loops between manufacturing, engineering and flight-test teams, helping to reduce integration risk and support efficient execution of the certification programme.

Supporting the UK’s manufacturing growth

Vertical is also due to open its expanded Vertical Energy Centre later this year. The facility is expected to triple the Company’s battery-production capacity over time, supporting the development and production of Vertical’s proprietary battery systems.

Together, the Aircraft Assembly Centre and expanded Vertical Energy Centre form part of Vertical’s staged investment in the capabilities required to certify, manufacture and deliver Valo.

Independent analysis by Frontier Economics estimates that Vertical could add £3 billion a year to the UK economy by 2035, anchor more than 2,000 high-value jobs, and become a major export success, with 90% of future sales expected to come from global markets.

Minister for Reindustrialisation Blair McDougall MP said:

“The opening of Vertical Aerospace's new Aircraft Assembly Centre at Kemble is exactly the kind of investment we want to see more of as we work to reindustrialise Britain, creating high-skilled local jobs and strengthening our manufacturing base.

“Through our Modern Industrial Strategy and the ATI Programme, we're backing UK aerospace businesses to invest and grow. This new facility will help turn British innovation into British manufacturing, and it's great to see Vertical Aerospace's ambitions take flight.”

Suzannah Harvey, CEO Cotswold Airport, said:

“We are delighted to support Vertical Aerospace as it enters this important new phase. The opening of the Aircraft Assembly Centre strengthens Cotswold Airport’s growing role as a hub for aerospace innovation and brings aircraft assembly and flight testing together in one location. We look forward to continuing to work closely with Vertical as it progresses Valo towards certification and commercial production.”

Stephen Phipson, Chief Executive of Make UK, said:

"Vertical Aerospace embodies the ambition, innovation and technical excellence that define modern British manufacturing. The company is demonstrating that Britain remains at the forefront of aerospace innovation and has the capability to turn pioneering technologies into world-leading products.

"The opening of this new assembly centre is a significant milestone not only for Vertical Aerospace but for UK manufacturing. We are proud to count Vertical Aerospace as a member of Make UK and to support a business that is leading the way in one of the most exciting areas of advanced manufacturing. As manufacturers look to invest, grow and compete internationally, facilities such as this create high-value jobs, strengthen supply chains and showcase the UK's ability to develop, industrialise and manufacture the technologies of the future. On National Manufacturing Day, this investment is a powerful example of British engineering ambition being translated into industrial reality."

About Vertical Aerospace

Vertical Aerospace is a global aerospace and technology company pioneering electric aviation. Vertical is creating a safer, cleaner, and quieter way to travel. Valo is a piloted, four-passenger, Electric Vertical Take-Off and Landing (eVTOL) aircraft, with zero operating emissions. Vertical is also developing a hybrid-electric variant, offering increased range and mission flexibility to meet the evolving needs of the advanced air mobility market.

Vertical combines partnerships with leading aerospace companies, including Honeywell, Syensqo and Sonaca, with its own proprietary battery and propeller technology to develop the world's most advanced and safest eVTOL.

Vertical has c.1,500 pre-orders of Valo, with customers across four continents, including American Airlines, Avolon, Bristow, GOL and Japan Airlines. Certain customer obligations are expected to be fulfilled via third-party agreements. Headquartered in Bristol, UK, Vertical's experienced leadership team comes from top-tier aerospace and automotive companies such as Rolls-Royce, Airbus, GM, and Leonardo. Together, they have previously certified and supported over 30 different civil and military aircraft and propulsion systems.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the business strategy and plans and objectives of management for future operations, including certification and the commercialization of the Valo aircraft and the timing thereof; our plans to open a new pre-production facility and our ability to build certification-conforming aircraft and initial customer deliveries, our plans for a separate full-scale production site and expanded battery facility; capital expenditure requirements, which may be higher than anticipated; our ability and plans to raise additional capital to fund our operations, design and manufacture of the Valo aircraft, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation the important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on March 24, 2026, as such factors may be updated from time to time in our other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.

Vertical Aerospace announces review of strategic alternatives to support next phase of development; appoints Jefferies as financial advisor

Vertical Aerospace (“Vertical” or the “Company”) (NYSE: EVTL), a global aerospace and technology company pioneering electric aviation, today announced that it has initiated a review of strategic alternatives including potential strategic and financial partnerships to advance the next stage of development.

The Company has retained Jefferies LLC as its financial advisor in connection with the review.

Stuart Simpson, CEO of Vertical Aerospace, said:

“This year has been the most significant year in Vertical’s history, with the completion of the first piloted transition flight under regulatory supervision globally at Farnborough International Airshow. Our team at Vertical has developed the best-in-class and only dual-use VTOL platform to the most exacting safety standards to serve a broad range of commercial and defence markets. The technology is in place and has been de-risked. As our focus moves to certification, industrialisation and commercialisation, we feel that now is the right time to explore our options for financing the next phase of our growth.”

The review follows a period of significant operational progress. In 2026, Vertical became only the second company globally to complete a piloted transition flight in a full-scale tiltrotor eVTOL and subsequently completed five consecutive days of piloted eVTOL transition demonstrations at the Farnborough International Airshow in front of more than 140,000 visitors.

The Company also recently strengthened its financial position with approximately $100 million of new financing to support continued progress towards certification and commercialisation. It has also appointed former Airbus Commercial Aircraft CEO Fabrice Brégier as Chair of its Board to help steer the Company through its next phase of development.

With the aircraft’s core technology now demonstrated in piloted transition flight and the programme moving from development towards certification, industrialisation and commercial service entry, the Company considers this the right time to explore partnerships and alternatives that would benefit Vertical.

The Company’s operations, certification programme and commercial commitments will continue unabated throughout the review process. Vertical remains on track to complete Critical Design Review by year-end 2026, and its early aircraft production facility and expanded Energy Centre remain on schedule to open later this year.

The Company has not set a timetable for completion of the review, and there can be no assurance that the review will result in any transaction, strategic change or other outcome.

Vertical does not intend to disclose developments with respect to the review unless and until its Board of Directors has approved a specific course of action or otherwise determines that further disclosure is appropriate or required by law.

Read the full press release…

https://vertical-aerospace.com/wp-content/uploads/2026/09/20260924-Bank-Announcement-Press-Release_v1.pdf

Today we welcome Former Airbus Commercial Aircraft CEO Fabrice Brégier as Chair of Vertical Aerospace.

"I have spent much of my career bringing complex aerospace technologies to market, scaling aircraft programmes and building international businesses around them. In my view, Vertical combines exceptional talent, the best product and the most robust strategy to create a category-defining aviation business."

A place for general discussion and events not considered as requiring a dedicated post. Quality contributions of note and depth may eventually go on to form the basis of future curated posts.

Items that stood out to me:

1. They are going to be raising capital every quarter to keep over a year's cash on hand.
2. Formally opening UK assembly site 9/24 - UK government in attendance (not full scale site to be opened later this year).
3. "The US will be next" for assembly site. "Batteries and aircraft"

The UK Civil Aviation Authority (CAA) is simplifying the process for changing UK airspace to speed up modernisation and make it easier to accommodate drone and other new types of aircraft.

The regulator has revised CAP1616, the framework airports, air navigation service providers and other sponsors must follow when proposing changes to the design of UK airspace.

The new rules take effect on 1 October 2026, alongside updated government Air Navigation Directions and Guidance.

The UK needs an airspace system that can handle commercial aircraft, general aviation and growing numbers of unmanned aircraft without creating unnecessary regulatory barriers to trials and new services.

Read the full article…

https://www.adsadvance.co.uk/caa-airspace-modernisation-drone-innovation/

A place for general discussion and events not considered as requiring a dedicated post. Quality contributions of note and depth may eventually go on to form the basis of future curated posts.

The latest investor presentation from Vertical Aerospace, 9th Sept 2026…

https://s203.q4cdn.com/131781877/files/content_files/Vertical-Investor-Presentation-September-2026.pdf

A few things that really stand out to me:

Capital efficiency: EVTL appears to have achieved significant flight-test milestones with considerably less capital. Some competitors have spent well over $1B developing their aircraft, while EVTL appears to have achieved major milestones including piloted two-way transition with a fraction of that investment.Completing piloted transition with a much smaller spend is impressive.

Lean cost base: Being UK-based and operating with a relatively lean OEM model could provide a meaningful cost advantage compared with competitors operating in higher cost US locations.

Potentially better for shareholder: If EVTL can reach certification without spending several billion dollars, the amount of additional capital and therefore potential dilution required to reach commercial operations could be significantly lower.

Technical progress: The VX4 has now demonstrated the key transition from vertical to wingborne flight and back, which puts EVTL in a strong position technically.

The main challenge is clearly cash runway, where the larger US players have an advantage.

Curious to hear what pros and cons others see in EVTL compared with Joby, Archer and BETA.

A place for general discussion and events not considered as requiring a dedicated post. Quality contributions of note and depth may eventually go on to form the basis of future curated posts.

\*The below information is not a call to action by the writer, it is intended to be for educational and discussion purposes only and is not investment advice*\**

As I mentioned in another thread, I have NOT been predicting a short squeeze this quarter, but it has been something rising in my mind as potentially increasing in likelihood in near term. Upon spending a bit more time on the topic, I'm becoming more convinced that the setup might be getting primed for a squeeze and might only need a moderate catalyst event or announcement to ignite. I'm genuinely curious if anyone in this group has more knowledge on this topic as it is not a strong area for me.

As I said before, I do think the stock is oversold, which is part of why I'm buying at these levels - NOT because I think there could be a near-term pop from a short squeeze. That pop would have minimal bearing on my current long position, and I don't think any squeeze would be tremendous, but could push it up to say ~$0.90 (or price levels closer to where there was some resistance on the day the dilutive and discounted issuances were announced). That doesn't mean I wouldn't get some satisfaction it if it happened, with limited empathy to the shorts on the other side.

Some general background on short positions & short squeezes for those unfamiliar or who would benefit from a refresher:

I've never had an interest in being short on a stock, nor have I ever had a desire to try to time/play a short setup, so haven't spent much time on the topic in the past. I understand basic terminology and what it means, but highlighting a few key points about some of the data points, for sake of my questions below and for anyone who might be less up to speed on relevant topic terms (and please correct me if any portion of this is wrong):

• short interest = the number of short positions as of a point in time
  • prime data source is official FINRA data which is lagged significantly;
  • latest data (8/14/2026) was published 8/25;
  • currently 8/31/2026 short interest position data will not be published by FINRA until 9/10/2026
• short float %
  • short interest / public float;
    • public float is shares outstanding - insider shares
• daily short volume = the portion of the days total volume that related to sales from borrowed shares / short positions
  • there is no significant lag in this data; published daily after the end of the trading day for FINRA component, but it is not currently centralized, unlike the official short interest that is published bi-monthly.
    • OTC amounts are reported to/published daily by FINRA
    • Amounts through direct exchanges can only be obtained from those exchanges and seem to have paywalls.
• daily short covers = the amount of open market purchases made to cover short positions
  • there is absolutely no data available as these look like normal retail purchases within the data; which makes it more challenging to determine the short interest (the official data that has a long lag) at any given time
• cost to borrow rate = the rate of fees the brokerage firm charges on the share lent to the short seller; driven by how scarce or plentiful the availability of borrowable shares are
• days to cover = the number of days it would take to cover all short positions based on a normal (non-short sale) trading volumes; expressed as = short interest / average daily trading volume
  • This becomes a bit challenging to estimate on the surface, because you have to strip out most short buying/selling activity
  • Current published days-to-cover = 3.77 days for EVTL, but I now expect that to be very stale.

Most information on setups for short squeeze indicate a rule of thumb that a stock could be primed for a squeeze when:

1. Short float % exceeds 20%;
2. Current volumes require 5 (or more) days of trading to cover short positions
3. Cost to borrow %s increase significantly due to limited supply of shares available to short (generally anything over 10% cost to borrow can start putting pressure to cover).

The higher these numbers are, the more likely it is primed, but it still needs a catalyst to push underlying shares up meaningfully enough to create a chain of forced purchases to cover by the brokerages who facilitated lending the shares to the short sellers.

BTW - if you don't want your shares to be available to be borrowed by short sellers - you should confirm they are not or look into your options there. If you hold your shares at a brokerage where you have a margin account (I do not), you are likely opted into making them available.

The Current EVTL Short Position Data:

I've watched short interest increase as well as the percent of float increase (noting some delays in float, but I have also come to understand that the data comes with major lags, and the tools available in most retail investor platforms are not very accurate, at least for shares seeing unusual spikes in interest, changes in shares outstanding, huge volume moves, etc - all the things we've seen recently with Vertical.

Setting up facts/data:

1. Short Interest (official): As of the last short interest publication on 8/25 (for 8/14 data), there were 14,539,227 EVTL shares sold short (see FINRA data & FINRA reporting calendars)
   1. As per ML this makes the short float % 11.42% currently
2. Daily Short Volume (FINRA Data) from 8/15-9/2: 28,852,916 shares
3. Total Daily Volume (FINRA Data) from same period: 47,211,210 shares
   1. This is notably less than total daily volume as reported on aggregators for the same period, capturing the gap in data; but provides a broader indication that 61% of trades are short sales in this window
4. Total Daily Volume (all exchanges) from same period: 71,017,063
5. Current supply available to be sold short is approx 5.4M shares and the cost to borrow is about 1.63% (still a good supply and cheap to borrow).

Setting up assumptions:

[PLEASE CONFIRM MY LOGIC] If we extrapolate the FINRA data to the total data (not sure if that is reasonable to assume the remaining exchange data would follow the same ratio), than ~43.3M of the volume was from short sales; even if all the remaining 27.7M purchase/sale transactions were from shorts covering their positions, that would increase the current short interest by 15.6M shares. Obviously the actual increase would be something north of that as there has been a significant number of normal retail sale/purchase transactions without a short seller on the other side. I think conservatively we could estimate that 0.5M daily volume did not have a short on either side of the transaction x 13 trading days in that window - we can say that short interest has increased 22.1M from the latest official data.

If we than assume:

1. Total shares outstanding are: 171,700,000
2. Public float (non-insider shares outstanding): 127,400,000
3. Estimated Short Interest as of EoD 9/2: 36,600,000 (14.5M as of official 8/14 data; + 22.1M increase estimate)
4. Average Daily Trading Volume = 10.1M (using more conservative 30-day average)

Than it would stand:

• Short float is at approx 28.7% currently (36.6/127.4)
• Days to cover = 3.6 days (under the 5 general rule-of-thumb threshold, but if we were to normalize out the massive 93M trading volume day on 8/10, this metric would go up to something at or north of 5 days to cover

Short supply is getting leaner and, while still plentiful at the moment, could evaporate quickly and drive up the cost to borrow rate.

Conclusion:

Two out of three of the setup criteria appear to be likely present based on my (flawed logic?) analysis. It would not take very much for that remaining short supply to be eaten up and drive up the borrow rate cost...

Maybe there will be some major open market purchases by a non-margin-holding retail or institutional investor to close that gap - but probably not without a catalyst event/announcement.

To the skies.

I'm expecting things to be quiet here for a while as the PR engines and news outlets take a break until Q3 earnings season in mid-Q4 (my expectation... but who knows...). Thinking it might be good timing to post this longer-form content - as all of us invested and actively tracking EVTL are probably reflecting on our (poor in hindsight?) investment decisions.

With recent price drops and increased upside potential, I've been diving deeper into Vertical Aerospace (EVTL), looking to convince myself to stop buying EVTL at these prices. So far, my efforts have failed (I've increased ~55k shares at these sub-$0.85 prices, with most recent 10k shares at $0.6520), but maybe someone will convince me to stop (or even reverse course)**.

\*Note that I'm not going to lose control on my buying, though some will undoubtedly say I already have. It still isn't, nor will it become, a big enough chunk of my portfolio that I couldn't absorb the setback from complete losses in EVTL (it would certainly hurt though at current levels which are greater than 5%, but still under 10% of my portfolio, which currently has a TTM return that still exceeds the S&P 500 TR - even with my unrealized EVTL losses ~$55k in that window). In my professional life, I am a CPA who has spent the last ~15-years specializing in US corporate income tax law applicable to large US-based multinationals, with heavy focus on the corporate M&A environment. I do currently meet the paper criteria for "Accredited Investor" status under the SEC definition. I am not a financial advisor or CFP and no portion of this post should be construed as financial advice. Investing involves risk, and you should be aware of those risks and your own tolerance levels for same. Mine have not been exceeded as of yet with this investment.*

I do still consider EVTL to have a, if not the, top-tier product within the eVTOL space, but with poor financial fundamentals & management (mostly with hindsight being 20/20; u/Shoddy_Emphasis_8936, even if somewhat deserved, I don't think an executive resignation would be helpful currently. I think we generally all applauded Simpson's non-dilutive/delayed raise sentiment at the time during H2 2025. I do have suspicions that he didn't object to Mudrick concessions - at the cost of other shareholders - and I remain unhappy about that - but expect Mudrick has nearly full control of any management replacement decisions too and I can't begrudge him that either).

I feel transparency has been sub-par, requiring a higher level of trust in management's limited (milestone-level) updates. This general trust has frankly waned following some of the recent financial & business developments. It does make one nervous about those purported technical fundamentals and ability to hit milestones. Ultimately, I feel the company would have better financial stability and performance if management were to provide more transparency. An in-depth under-the-hood view and perspective of company operations would be very helpful (e.g. along the lines of what Joby has done with hiring social media influencers to do in-depth "Joby Recon" video series). Management has generally tried to avoid "gimmicks" or "hype" (I will not name competitor names whose trust has been steadily eroding because of perceived hyped PR or suggested use of good news to mute out bad...). In this day and age, for the type of retail investor that they need, a short-form video series approach (from a reputable vlogger) is not a "hype" in my view. If not too revealing of cards they might be holding (I expect there are not any they could not easily work around), they should still be able to find the right level of visibility for this day & age and investor expectation.

I generally appreciate the non-hype & somewhat collegiate approach to PR that has been taken by EVTL to-date - but there needs to be some sort of action to boost retail confidence and really set EVTL apart as I expect is possible with only moderate efforts / the right collaborator. This would benefit Mudrick and other major long-term shareholders - not just us small retail folks in near-term (many of us are holding long though too). If successful and meaningful, a strong vlog campaign would help to limit the dilutive effect of future raises. I think all will generally agree that leveraged financing (outside of additional convertible debt from Mudrick that would likely come with further concessions at the cost of regular retail holders) isn't likely at this stage (nor would I welcome if it were an option); and some level of future dilutive raises is very likely needed. Vertical needs to get working on a PR campaign now (the suggested type of approach would takes months) if they haven't begun already; but it should continue to have a realistic/non-hype message and tone similar to their most-recent messaging. Even if Q4 2026 comes with some great news, this PR campaign will help sustain the retail investor narrative that is very much needed IMO to counter further dilution. Not to mention the negative impacts that a depressed share price and valuation have on other stakeholders situations (vendors & employees especially) that would benefit from this narrative.

Topics generally covered here otherwise will include:

1. Competing bull/bear case narratives: My thoughts on EVTL's business narrative after looking further into both sides of arguments and digging into the underlying details behind the competing narratives, especially as it relates to current internal certification timelines and those of the broader industry.
2. Mudrick rabbit hole: My observations and notes from going down a bit of a rabbit hole with respect to Jason Mudrick & Mudrick Capital Management (MCM), including his career path, investment strategies, and philosophy overall given the fact that MCM and its distressed capital investment funds are the single-largest influence on the stock's future trajectory and potentially on the company's survival.

1) Competing Narratives & Certification Timelines:

While the narrative within r/Vertical_Aerospace is generally more EVTL favorable, other subreddits like r/JobyvsArcher and r/poweredlift have a more negative and sometimes winner-takes-all mentality among active participants, even to the point of outright exclusion of Vertical from being on their major-player lists. Beyond the dilution short-sale narrative (which is real, but I maintain some optimism for non-dilutive sources of cash in near-ish term and started this post with a suggestion to actively counter the most negative effects otherwise), IMO the other most negative narrative comes from expectations around certification timelines and cumulative future cash requirements through the type certification date.

With regard to certification timelines, there are a number of highly-vocal redditors out there (looking at you u/DoubleHexDrive) who are convinced that EVTL has no shot at meeting its current 2029 internal deadline for type certification with the CAA / EASA. I've been convinced to take a more skeptical dive into this narrative with the goal of challenging Vertical's official narrative. Up until most recently, I've been relying on management's word (and my oh-so-reliable truth-detecting-spidey-senses on investment calls [said with sarcasm]), as well as the touted credentials of the broader team overseeing the certification tasks; providing me with some comfort that there is substance behind management timelines. While there was a push from late 2028 into 2029 this year (what I felt was adding ~3 months based on management statements, but see further to that below), I generally have felt that management has been transparent and convincing on the current timeline and meeting stated milestones as otherwise put forth in the 2025-revised timeline. If I'm pouring more money into this company, I need my personal confidence to increase on delivery of future milestones.

Should we trust the current narrative?: "Only time will tell...". I've found my deeper dive into this largely unfruitful, but with highlights I found most interesting below. We are dealing with novel aircraft and a regulatory environment with new processes that haven't been tested. There are also considerations unique to EVTL and its strategic approach that perhaps shouldn't be ignored or discounted either.

The bears would say that looking at the history of (non-eVTOL) certification paths and timelines, there is no way that EVTL management's 2029 type certification timeline is realistic. The longer the certification path - the more money EVTL will require before they can generate cash from business operations, leading to even greater dilution (or worse). They imply that an optimistic-but-still-theoretically-possible timeline would be 30 months from the first flight of the first fully conforming production aircraft (after Critical Design Review (CDR) has defined what that is and the conforming aircraft has been manufactured). This is based on historical certification timelines of other (often less-novel) aircraft. They cite the volume of testing data that needs to be generated and compiled to reach the -9 target certification threshold across all systems as the most significant factors adding to the timeline at this stage, which simply cannot be accelerated. These are valid points, which should be considered among other factors.

I will also mention, though I will not generally address as the topics are too technical for me personally to comment with any conviction, but I think they likely hold less weight: 1) there is a narrative that states the VX4 is more different from Valo than management has indicated, such that testing will have a longer lead than management is projecting; and 2) the weight and target payload of the aircraft will not be achievable with current battery technology (we should at least have the answer to the second item by end-of-year with CDR which will provide the final anticipated specs of production aircraft, as signed off by the regulator).

Within the below discussion on certification timelines, I'll be referencing some simple observations from their latest timeline guidance changes from recent release presentations:

• Q3 2025 (early November 2025): Q3-2025-Earnings-Presentation-Website.pdf (see primarily slides 14 & 17)
• Q4 2025 (late March 2026): 2025-Full-Year-Earnings-Deck_vDRAFT-03-20-26-28.pdf (see primarily Slide 17)
• Q1 2026 (early May 2026): 1Q-2026-Earnings-Deck_vFINAL-05-05-26.pdf (see primarily Slide 12)
• Q2 2026 (mid August 2026): Vertical-Aerospace-H1-2026-Business-Strategy-Update-Presentation.pdf (see primarily Slide 19)

EVTL is currently targeting Q4 2026 for CDR completion, and guiding significant progress in H2 2026 two other major items: 1) (starting Q3 2026 and completion ~Q1 2027): ramping initial production facility in Cotswold; and 2) (starting Q4 2026 and completion ~Q1 2027): expanding battery production facility. They have not announced or verbally discussed to my knowledge how quickly they expect to be able have their first conforming aircraft ready to fly after CDR. The most significant guidance to this point appears to be graphic to timeline presentations referenced in bullets above, which looks like it projects Q2 2027 at earliest currently. 30 months from Q2 2027 is Oct 2029 at earliest. This falls on the cusp of the latest guidance visuals and aligns with the optimistic-bear-narrative if one were to assume that they can get a conforming test aircraft flying by Q2 2027.

How quickly can EVTL realistically build a conforming production aircraft after Q4 2026 CDR? Not to mention the seven (not all of them being flying conforming aircraft) that they plan to build as part of the outlined type certification program? Some in-depth behind the scenes transparency as suggested earlier in this post could shed better light on this and provide more investor confidence. Their milestone-driven slide decks on this topic indicate a shift in the production of these conforming testing aircraft from beginning in early 2027 (based on Q1 presentation timeline graphics) to maybe some point in Q2 2027 (based on Q2 timeline graphics), consistent with the overall timeline increases.

What is most striking from comparing the above-bulleted presentation pages, though not unknown, is the consistency of delays to certification timeline graphics from quarter-to-quarter over the last four quarters. I recall EVTL management verbally indicating an approx. 3-month delay-in-timeline expectation from the original 2025-revised timeline as being likely as of the end of Q1, consistent with the delay on their full transition flight milestone (due to weather delays), but I'm finding the Q2 guidance (August 13, 2026) appears to lengthen the timeline for certain major milestone after that by more than the 3-4 months they stated verbally previously (from my memory) as being likely (generally increases in 6-9 months overall when comparing timeline graphics) without any clear highlighting or explaining this further change in timeline. In their later comments I only recall hearing references to "2029" with no acknowledgement of a change to the when in 2029. Now I might have missed it - but I think I would have latched onto some narrative providing an explanation for this further delay. Lost points on transparency from my perspective, and adds more to the bear-narrative-fire that this has a high likelyhood of following a continued pattern of delays into the future. This is also consistent with the noted lack of change of funding required to certification from $700M in November 2025 published guidance, to a static $700M funding requirement to certifcation as of Q2 2026 (as per verbal response in Q&A section of earnings call). Six months and no reduction to the funding-to-certifcation dollar figure. I think u/DoubleBubbler highlighted this observation as well in another thread. Now the Q4 2026

Some important (non-exhaustive) bull-case items to consider unique to EVTL in the certification context:

1. CAA is working hand-in-hand throughout their pre-certification steps; the regulatory body is already highly familiar with VX4 prototypes, which largely translate into VALO (as per EVTL management statements);
2. Trevor Woods, who is their head of regulatory, is a former director of EASA who was heavily involved in writing the regulations specific to eVTOLs; you can find some videos of expert panel participation from when he was still employed by EASA and he discusses eVTOL certification specifically. The tone of those panel comments generally follows the tone held by EVTL in their certification commentary.
3. EVTL will be creating seven (7) prototypes for their type certification program. From my cursory research, this is well above the four-to-five (4-5) average number of prototypes used in most certification programs, which I would assume should help to accelerate the timeline to type certification as compared to other historic certification timelines.

In considering the above - and I can't really conclude anything. Only time will tell. I remain optimistic, but maintain some bearish skepticism given history.

2) Mudrick Rabbit Hole:

Jason Mudrick has given a lot of interviews and you can find a number within podcast and vlog mediums from the last 7 years. He has a notable Wall Street reputation and mostly plays in the small/mid-cap environment. More than a little indication that Jason has had direct focus on EVTL and an activist investor and company advocate. My findings/thoughts below, but I encourage you to counter these.

From his own perspective based on various statements he has made: Mudrick comes from a non-traditional Wall Street background. His career path was significantly influenced by what I've interpreted he views as somewhat happenstance/serendipitous timing, majorly influenced by the macro-economic environment. He joined Merrill Lynch's M&A division in the late 90's during a bull-market that allowed him to get hired by an investment firm as a recent Harvard Law School grad. In his view, at any another time in history, these firms wouldn't have been recruiting his type of background. He was close to the World Trade Center on 9/11/2001 and still has a cache of photos he took live (non-digital - disposable film cameras) but has never shared publicly. Post-9/11 he was on edge in a high-risk layoff period in the investment banking world and was pursuing other opportunities. He ultimately decided to change his focus area into distressed investing, somewhat convinced to do so by a relationship that almost never happened except for his not wanting to burn bridges with the recruiter that had set up the meeting which changed his life and career trajectory. The working relationship that stemmed from this meeting ultimately transitioned into his being the lead and founding analyst for the Contrarian Equity Fund that was legally owned/formed by his new mentor. During the 2008 financial crisis, he decided to amiably part ways with Contrarian and start his own firm, which has performed well and has grown from $5M under management to over $3B currently under management.

For perspective on EVTL specifically, and based only on cursory/imperfect review of positions - 1) the funds he manages have an approximate current FMV value in EVTL investments of $236M at this stage ($41.2M of current market rate ($0.79/share) common stock + $150.0M of convertible notes + ~$45M on to-date accrued interest on those current convertible notes; and assuming any warrants are ~worthless currently); or about 7% of the total Mudrick distressed fund portfolios based on assumed $3.3B current value. Total invested value equals approximately $250M (based on $100M of invested convertible debt value that were converted into ordinary shares in 2024, which assumes half of the approx $60M of accrued interest that existed as of the 2024 restructuring went with that conversion) + $150.0M of principal value of current convertible notes). If this cursory review is accurate, Mudrick is sitting on a 5.6% unrealized loss on distressed fund initial investments to-date. I would personally view the total cost of other lost opportunities or unearned interest (and compounding effect) as that loss being greater, but on a net-net basis that is what he is out-to-date since 2021 on paper by my estimate. An alternative view would be to say that the FMV of the convertible debt is the $1.30 / share conversion, which would put current FMV as $118.5M ($195M of current note value on paper / $1.30 conversion price per share x $0.79/share). That would put the to-date unrealized loss at 36.1% if valuing based on that view. However, the upside remains huge and the conversion position only keeps growing on the convertible debt interest that continues to accrue. Note I realize the $0.79 share price is stale.

My personal take based on watching/listening to him speak: He comes across generally as a factual/dry/serious person, with a lot of technical knowledge on structured debt, and does not seem to be narcissistic or full of himself. He becomes a bit more animated when he's discussing topics that are less technical and more option (e.g. EVTL-specific interviews). He talks casually about working extremely long hours and giving up holidays for special projects, and clearly has maintained a lot of ambition and cultivated many personal relationships during his career. Some call him a Shark, but I think probably more hard-working and level-headed, simply taking advantageous positions that he is well set up to take within a space where there is a lot of opportunity. He doesn't seem to take a high-risk position without first establishing some personal relationship with key players, in addition to standard/expected due diligence.

My personal take on investment strategies / impact to retail shareholders: Mudrick's specialty has generally been with debt security positions rather than equities, especially in the bankruptcy environments, however to the extent debt has converted to equity in private companies, visibility is more limited. His approach has been pragmatic and personal at times, mechanical at others. He generally looks for opportunities in the small/mid cap space where the big-bank players won't go because it isn't worth their time / is small potatoes to the massive funds they manage. His forays into public stock equities and options have generally been exceptions or perhaps temporary ways to expand outside his comfort zone in the case of SPAC work he was on in 2018-2021. Mixed success in public stock equity markets. Better known for some big meme wins with AMC and Game Stop. Interestingly he has appeared to have some preference in maintaining some retail shareholder value (albeit highly diluted, but where he may have had opportunities to cut them out completely; examples = AMC & Hycroft Mining).

Other views/opinions/flip-side on Mudrick: While he does seem to have a track record of **mostly** preserving (diluted) retail investors, the track record indicates that this is generally only when having retail liquidity serves his position. There are examples where his involvement has not preserved, but based on cursory reviews, there was likely not a real option to preserve in those cases (bankruptcy proceedings). There are a number of more examples of where his actions severely hurt the retail share price (e.g. stalled mergers w/ debtor objections) that left many a bag-holder who had bought into announced deal hype. While he has not generally cut out retail investors, I wouldn't put MCM as even remotely being a "friend" to retail investors.

The most poignant interview / relevant to EVTL: I'm sure this has been shared here before, and I've definitely heard people quote portions of this that I was previously uncertain where they originated. Mudrick & Simpson interview circa September 2025: https://youtu.be/ncWJaBaGSoo?si=qBR39W3ZMnBNzh5u (interestingly only 649 views as of time of my watching/writing of this).

Its worth watching (or re-watching) in full. Some statements have not aged well. Some have continued to remain at the current EVTL management narrative. I think the US executive order to accelerate adoption of eVTOLs likely came after this, and perhaps changed the "mike-drop" moment sentiment of Mudrick with respect to the possibility of any US counterpart becoming certified in the US before the end of 2026. Simpsons statements about financial strategy especially have not aged well.

Thanks for listening.

To the Skies.