04:56 PM EDT, 07/08/2025 (MT Newswires) -- Vertical Aerospace ( EVTWF ) said Tuesday it started a $60 million underwritten public offering of its ordinary shares.

Underwriters in the offering will have a 30-day option to buy up to an additional $9 million of shares.

Net proceeds from the offering are expected to be used to fund research and development expenses, expenditures related to the expansion of testing and certification capacities, working capital, and general corporate purposes.

Shares of Vertical Aerospace ( EVTWF ) fell 21% in recent after-hours activity.