Lilium Announces Pricing of $114 Million Financing

Core Points - Lilium N.V. announced a $114 million financing, which includes a $40 million underwritten public offering and a $50 million private placement [1] - The public offering involves the sale of 38,095,238 Class A ordinary shares at a price of $1.05 per share, with accompanying warrants exercisable at $1.50 per share [2][4] - The company plans to use the proceeds from the offerings to fund development, operations, and general corporate purposes [5] Public Offering Details - The underwritten public offering is priced at $1.05 per share and includes warrants, with an option for the underwriter to purchase an additional 5,714,285 shares [2] - The public offering is expected to close on May 29, 2024, while portions of the private placement are expected to close on May 31 and June 28, 2024 [5] Private Placement Information - The concurrent private placement involves the sale of 47,573,111 shares and warrants at the same price of $1.05 per share, with warrants exercisable at $1.50 per share [4] - Investors in the private placement include BIT Capital, Earlybird Venture Capital, and Aceville, an affiliate of Tencent Holdings [1][4] Company Overview - Lilium is focused on creating a sustainable mode of high-speed regional transportation using its all-electric vertical take-off and landing jet [8] - The company aims to accelerate the decarbonization of air travel and has a strong team of over 1000 employees, including approximately 500 aerospace engineers [8]