Public (NYSE: EVTL); restructured amid going-concern doubt
Live Β· EVTLΒ· NYSE
as of 2026-09-17
$0.604β² 9.06% today
βΒ $102 Million market cap Β· β95.1% from peak
The rise & fall
7 moments Β· 2016β2025
The key moments, with employee sentiment along the way.
2016
π±
2016
Founded in Bristol
OVO Energy founder Stephen Fitzpatrick sets out to build the VX4, a battery-powered air taxi.
Wikipedia
Dec 2021
π
Dec 2021
The peak: a $2.1B NYSE debut$2.1B
Lists via SPAC at the very top of the flying-taxi hype; the stock's all-time high comes the same month.
Yahoo Finance
2022
π
2022
Slips out of the club
Still pre-revenue and cash-hungry, the stock collapses roughly 90% as the eVTOL downturn sets in.
Motley Fool
2023
2023
A VX4 prototype goes down in testing
The uncrewed accident sets back the flight-test campaign while the cash clock keeps ticking.
Reuters
2022β24
π¬
From the inside Β· Glassdoor reviews, 2022β24
Glassdoor reviews from Bristol described a company in near-permanent reorganization β org charts and priorities redrawn every few months, recurring rounds of redundancies, and a top-heavy middle-management layer staff said slowed decisions.
2024β25
2024β25
Going-concern doubt, then a lifeline
The company warns it may not be able to continue; a debt-for-equity restructuring and ~$160M in financing buy time, with the market value still far below $1B.
Seeking Alpha
Today
Today
Still in the club β and still trading
Live Β· EVTL Β· NYSEas of 2026-09-17
$0.604β² 9.06% todayβ $102M cap Β· β95.1% from peak
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Vertical Aerospace is a British developer of the VX4, a battery-powered eVTOL air taxi, and went public on the NYSE in December 2021 via a SPAC merger at a market value around $2.1B amid the flying-taxi hype.
Years later it remained pre-revenue and cash-hungry against a brutal eVTOL downturn; the stock collapsed roughly 90% and the company warned of serious doubt about its ability to continue. A debt-for-equity restructuring later bought it time, though its market value stayed well below $1B.
Source: Yahoo Finance / Motley Fool / Seeking Alpha (SPAC merger Dec 2021, ATH Dec 2021, market cap ~$2.1B; fell to ~$278M, -98% on the stock; pre-revenue, going-concern doubt, debt restructuring and ~$160M financing)
Founder
Stephen Fitzpatrick
Founder & former CEO (stepped down; also founded OVO Energy)
