Mudrick Takes Control of Vertical with $130M Debt Swap

- Mudrick gains control of Vertical Aerospace via $130M debt-to-equity swap. - Vertical Aerospace to launch six-seat VX4 by 2028 under new US aerospace policies. Wall Street investor Jason Mudrick has strategically gained control of Vertical Aerospace by converting $130 million of debt into equity. This move not only made Mudrick the top shareholder in the firm but also toppled the company's founder. Vertical Aerospace develops the VX4, a six-seat electric vertical takeoff and landing (eVTOL) aircraft, and targets a 2028 launch, intending for it to alleviate urban traffic congestion. On June 14, 2025, Cryptopolitan reported on Mudrick's takeover. This takeover follows a pivotal executive order by Donald Trump aimed at bolstering US aerospace initiatives. On that day, investor Jason Mudrick stated to Cryptopolitan, "This executive order rendered the flying taxi concept 'sort of real'." Vertical Aerospace plans to market its six-seat eVTOL aircraft, the VX4, by 2028, targeting congested urban areas. Vertical Aerospace plans to sell these aircraft and also intends to generate long-term revenue from servicing and battery replacement contracts. Additionally, the company aims to obtain European safety certification. However, Vertical Aerospace faces competition from US firms such as Archer, Beta Technologies, and Joby Aviation, which target earlier launch dates, around 2025 or 2026. Together, these competitors have raised $1.4 billion over the past year. On June 14, Jason Mudrick, Vertical Aerospace's top shareholder, told Cryptopolitan that these competitor timelines are "too optimistic." He acknowledged, however, the substantial additional funding Vertical Aerospace requires to complete the $1 billion certification process for the VX4. On June 8-9, 2025, The Wall Street Journal reported that Mudrick's involvement could significantly impact Vertical Aerospace's position in the emerging eVTOL market.