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Air taxi firm Vertical says Mudrick to convert some notes to equity, extend repayment deadline

By Yahoo! Finance   |   1 month ago
Air taxi firm Vertical says Mudrick to convert some notes to equity, extend repayment deadline

UK-based Vertical Aerospace announced that Mudrick Capital will convert 50% of debt notes to equity, extending repayment to 2028. Mudrick will provide $25 million upfront and backstop funding, giving Vertical financial relief and extending its cash runway.

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