BUZZ-Vertical Aerospace dives after launching $75 mln public offering

** US-listed shares of air taxi maker Vertical Aerospace EVTL.N dive 26.2% in extended trading to $6.65 on planned capital raise

** London-based firm commences public offering of $75 mln of units

** Each unit comprises one ordinary share and one-half each of one Tranche A and Tranche B warrant

** Co says plans to use net offering proceeds to fund R&D as it continues to develop the VX4 aircraft and its expenditures in the expansion of its testing and certification capacities

** William Blair lead bookrunner, joined by Canaccord Genuity

** Earlier this month, co said its eVTOL prototype achieved key piloted flight milestone

** Co has ~69.5 mln shares outstanding for about $645 mln market cap

** Shares on Weds closed down 1.9% at $9.28, extending YTD loss to 26%. Stock gained 83% in 2024

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))