Milbank LLP advised Imagination Aero Investments Limited (the “Investor”), a company wholly owned by Stephen Fitzpatrick, in connection with a commitment by the Investor to provide up to $50 million of funding to Vertical Aerospace Ltd. in the form of an equity investment, pursuant to an investment agreement executed in February 2024.
Vertical Aerospace Ltd. (the “Company”) is a global aerospace and technology company. It primarily focuses on the development, production and distribution of eVTOL aircraft, ensuring zero operating emissions. The Company was founded in 2016 by Stephen Fitzpatrick, also known for founding the OVO Group, a leading energy and technology group and Europe’s largest independent energy retailer.
The Milbank team was led by Corporate Finance and Securities partners Apostolos Gkoutzinis and Trevor Truman and associates Stefanos Serfas and Manel Mostefaoui.