Updates with pricing details
** US-listed shares of air-taxi maker Vertical Aerospace EVTL.N tumble 31.8% premarket to $4.74 after follow-on priced
** UK-based firm early Weds offers 12 mln shares at $5 for $60 mln gross proceeds
** Offering price represents 28.1% discount to stock's last close
** Deutsche Bank and William Blair are jt bookrunners
** Co intends to use net proceeds to fund R&D for continued development of its VX4 aircraft, expand testing and certification capacacities
** In early May, co expanded its partnership with Honeywell HON.O to take VX4 to certification
** With ~84.7 mln shares outstanding as of Jul 1, per the prospectus, EVTL has about $590 mln market cap
** Through Tues close, shares had risen ~140% over the past three months, leaving them down ~45% YTD
** 4 of 6 analysts rate EVTL "buy", 1 rates "hold" and 1 recommends "sell" and median PT is $13.50, LSEG data reflects
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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