13D Filings
Vertical Aerospace Ltd.
EVTL
Amendment
Ownership

58.40%

Total Shares

101,021,846

Issuer CIK

1867102

Event Date

Mar 29, 2026

Accepted

Apr 1, 2026, 05:53 PM

Reporting Persons (20)
Joint Filing

This is a joint filing. The reported shares may overlap between reporting persons and should not be summed.

NameType% of ClassAggregateSole VotingShared Voting
Mudrick Capital Management, L.P.
Partnership
58.40%101,021,8460101,021,846
Mudrick Capital Management, LLC
Other
58.40%101,021,8460101,021,846
Jason Mudrick
Individual
58.40%101,021,8460101,021,846
Mudrick Distressed Opportunity Fund Global, L.P.
Partnership
17.00%23,356,030023,356,030
Mudrick GP, LLC
Other
17.00%23,356,031023,356,031
Mudrick Distressed Opportunity Drawdown Fund II GP, LLC
Other
11.10%14,863,428014,863,428
Mudrick Distressed Opportunity Drawdown Fund II, L.P.
Partnership
10.10%13,458,661013,458,661
Mudrick Distressed Opportunity 2020 Dislocation Fund, L.P.
Partnership
2.70%3,520,59903,520,599
Mudrick Distressed Opportunity 2020 Dislocation Fund GP, LLC
Other
2.70%3,520,59903,520,599
Mudrick Distressed Opportunity SIF Master Fund, L.P.
Partnership
2.10%2,731,49102,731,491
Mudrick Distressed Opportunity SIF GP, LLC
Other
2.10%2,731,49102,731,491
Mudrick Stressed Credit Master Fund, L.P.
Partnership
2.10%2,710,80102,710,801
Mudrick Stressed Credit Fund GP, LLC
Other
2.10%2,710,80102,710,801
Mudrick Opportunity Co-Investment Fund, L.P.
Partnership
1.80%2,238,49502,238,495
Mudrick Opportunity Co-Investment Fund GP, LLC
Other
1.80%2,238,49502,238,495
Mudrick Distressed Opportunity Drawdown Fund II SC, L.P.
Partnership
1.10%1,404,76701,404,767
Mudrick Distressed Opportunity Drawdown Fund III, L.P.
Partnership
0.40%512,4470512,447
Mudrick Distressed Opportunity Drawdown Fund III GP, LLC
Partnership
0.40%512,4470512,447
Mudrick Co-Investment Opportunity III, L.P.
Other
0.20%250,0000250,000
Mudrick Co-Investment Opportunity III GP, LLC
Other
0.20%250,0000250,000
Disclosure Items (4)

Security Title

Class A ordinary shares, par value $0.0001 per share

Issuer Name

Vertical Aerospace Ltd.

Issuer Address

Unit 1 Camwal Court, Bristol, X0, BS2 0UW

This Item 4 of the Schedule 13D is amended and supplemented as follows: As disclosed by the Issuer, on March 30, 2026, the Issuer announced the issuance of registered ordinary shares for an aggregate of $50 million, issued under the Issuer's "at the market" share issuance program pursuant to the open market sale agreement, dated September 5, 2025, as amended, between the Issuer and Jefferies LLC (the "Capital Raise"). As a result of the Capital Raise, the Reporting Persons' beneficial ownership decreased by more than 1% of the Issuer's outstanding equity securities. Additionally, on March 30, 2026, MCM agreed in principle, subject to further negotiation and the execution of definitive agreements, to: (i) amend the existing 10.00% / 12.00% Convertible Senior Secured Notes held by certain of the Reporting Persons to extend their maturity from December 2028 to December 2030; and (ii) provide a facility under which it would purchase up to $50 million of new additional convertible secured notes subject to certain conditions, issuable in tranches over 12 months, and on the same terms as the existing notes. The Reporting Persons previously acquired Issuer Securities for investment purposes. The Reporting Persons review their investment in the Issuer on a continuing basis and consider such other factors relevant to the Reporting Persons, which could include the price and availability of Issuer Securities, the Issuer's business and the Issuer's prospects, applicable legal restrictions, prevailing market conditions, other investment opportunities, tax considerations, liquidity requirements of such Reporting Person and/or other investment considerations. Without limiting the generality of the preceding sentence, each of the Reporting Persons (in each case, subject to any applicable restrictions under applicable law) may at any time or from time to time: (i) purchase, receive in a distribution or other transfer, or otherwise acquire Issuer Securities (including, but not limited to up to $50 million of new additional convertible secured notes as discussed above), in public or private transactions; (ii) convert or redeem all or a portion of the Convertible Senior Secured Notes for Ordinary Shares; (iii) exercise all or a portion of the Existing Warrants, Tranche A Warrants and/or Tranche B Warrants, in each case, for Ordinary Shares; (iv) sell, transfer, distribute or otherwise dispose of all or a portion of its Issuer Securities in public or private transactions, including in registered offerings, subject to any applicable lock-up or other agreement; (v) enter into derivatives or hedging transactions relating to Issuer Securities and/or (vi) enter into agreements with a broker intended to comply with the requirements of Rule 10b5-1(c)(1)(i) under the Act, on such terms and at such time as the Reporting Persons may deem advisable. Subject to the agreements described in the Schedule 13D, the Reporting Persons, at any time and from time to time, may review, reconsider and change their position and/or change their purpose and/or develop such plans, including with respect to influence on management or the Board regarding the business and affairs of the Issuer, including with respect to MCM's consent rights with respect to the Issuer's governance documents and the Board's composition as disclosed in Amendment No. 3, and engage with advisors, the Issuer or other persons regarding such matters.

Percentage of Class

This Item 5(a) of the Schedule 13D is amended and supplemented as follows: The responses set forth in rows 7 through 13 and the related "Comments for Type of Reporting Person" on the cover pages to this Amendment No. 6 are incorporated by reference into this Item 5. Such responses are provided as of March 30, 2026.

Number of Shares

This Item 5(b) of the Schedule 13D is amended and supplemented as follows: The responses set forth in rows 7 through 13 and the related "Comments for Type of Reporting Person" on the cover pages to this Amendment No. 6 are incorporated by reference into this Item 5. Such responses are provided as of March 30, 2026. By virtue of the relationships described herein, the Reporting Persons may be deemed to constitute a "group" within the meaning of Rule 13d-5 under the Exchange Act. The filing of this Schedule 13D shall not be construed as an admission that the Reporting Persons beneficially own those securities held by another member of such group. In addition, each Reporting Person expressly disclaims beneficial ownership of any securities reported herein except to the extent such Reporting Person actually exercises voting or dispositive power with respect to such securities.

Transactions

This Item 5(c) of the Schedule 13D is amended and supplemented as follows: Except as set forth herein, the Reporting Persons have not effected any transactions in securities of the Issuer during the past 60 days.

Shareholders

This Item 5(d) of the Schedule 13D is amended and supplemented as follows: Under certain circumstances, partners, members or shareholders of the Reporting Persons, as the case may be, could have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, securities owned by such Reporting Person.

Date of 5% Ownership

N/A

Exhibit 18: Joint Filing Agreement, incorporated by reference to Exhibit 17 of Amendment No. 5 to this Schedule 13D filed with the SEC on April 1, 2026.

Vertical Aerospace Ltd. — Schedule 13D | 13D Filings