Latham & Watkins has advised Vertical Aerospace, a global aerospace and technology company pioneering electric aviation, on US$100 million of financing.
The financings comprise a US$35 million underwritten registered direct offering of ordinary shares, a US$25 million drawdown from its convertible preferred share facility, and a US$40 million accelerated drawdown from its senior secured convertible note facility.
The Latham team was led by London partner Robbie McLaren and counsel Yoseph Choi, and New York partner Reza Mojtabaee-Zamani, with London associates Joann Kim and Eunice Chan, and New York associates Shawn Noh and Daniel Weiss. Advice was provided on US tax matters by New York partner Aaron Bernstein, with Washington, D.C. associate Shiyi Parsons; and on UK tax matters by London partner Karl Mah, with associate Ruby Wong.
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