09:18 AM EDT, 07/09/2025 (MT Newswires) -- Vertical Aerospace ( EVTWF ) stock was down nearly 32% in recent Wednesday premarket activity after the company said it has priced an underwritten public offering of its ordinary shares at $5 each for gross proceeds of $60 million.

Underwriters have a 30-day option to buy up to an additional 1.8 million shares, the company said.

The offering will likely close Thursday, Vertical Aerospace ( EVTWF ) said, adding that it will allocate the proceeds toward financing research and development expenses.