Vertical Aerospace Inks Investment Agreement With Founder And CEO, Stephen Fitzpatrick Committing To Provide Up To $50M Of Funding
Portfolio Pulse from Benzinga Newsdesk
Vertical Aerospace has signed an investment agreement with its founder and CEO, Stephen Fitzpatrick, who commits to providing up to $50M in funding. This agreement follows a legally binding termsheet announced on January 21, 2024. Vertical is required to call an extraordinary general meeting (EGM) for shareholders to vote on amendments to its governance documents.
February 22, 2024 | 10:45 pm
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Vertical Aerospace's agreement with CEO Stephen Fitzpatrick for up to $50M funding could bolster the company's financial position and support its growth initiatives.
The commitment of up to $50M in funding from the CEO is a significant financial boost for Vertical Aerospace, likely leading to positive investor sentiment and potential stock price increase in the short term. The requirement for an EGM to vote on governance amendments indicates a strategic move that could further stabilize and structure the company's future growth.
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