Vertical Aerospace Ltd. (EVTL), an aerospace and technology company, Wednesday said it has priced its public offering of $60 million of shares at $5.00 per share.
The company has granted the underwriters of the offering a 30-day option to purchase up to an additional 1.8 million shares.
Vertical intends to use proceeds from the offering to fund its research and development expenses, for working capital and other general corporate purposes.
The offering is expected to close by July 10.
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