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Vertical Aerospace ( (EVTL) ) has provided an update.
Vertical Aerospace has entered into a forbearance agreement with Mudrick Capital Management and other stakeholders regarding potential defaults related to its convertible notes due in 2026. This agreement temporarily prevents Mudrick Capital from exercising its rights and remedies due to these defaults, allowing the company time to implement a transaction plan outlined in a term sheet. The agreement indicates a strategic effort to address financial challenges and stabilize the company’s operations, potentially impacting its market position and relationships with investors.
More about Vertical Aerospace
Vertical Aerospace is an aviation company that operates in the aerospace industry, focusing on the development and production of electric vertical take-off and landing (eVTOL) aircraft. The company aims to revolutionize urban air mobility with its innovative aircraft designs.
YTD Price Performance: 11.92%
Average Trading Volume: 108,439
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $147.1M
Find detailed analytics on EVTL stock on TipRanks’ Stock Analysis page.
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