Lilium N.V.(US:LILM) Newsfilter·2024-05-24 12:36Core Viewpoint - Lilium N.V. announced a $114 million financing package, which includes a $40 million underwritten public offering and a $50 million private placement, aimed at funding the development and operations of the company [1][5]. Financing Details - The underwritten public offering consists of 38,095,238 Class A ordinary shares priced at $1.05 per share, along with warrants to purchase the same number of shares at an exercise price of $1.50 per share [2][4]. - A concurrent private placement (PIPE) involves the sale of 47,573,111 shares and warrants at the same price of $1.05 per share, with similar exercise terms for the warrants [1][4]. - The total financing includes an Aceville Pre-Funded Warrant allowing Aceville to purchase 24,233,035 shares at an exercise price of $1.05, with a prepayment of $24.23 million [1]. Use of Proceeds - The net proceeds from both the public offering and the PIPE will be utilized for the company's development, operations, and general corporate purposes [5]. Closing Timeline - The public offering is expected to close on May 29, 2024, while portions of the PIPE are anticipated to close on May 31, 2024, and June 28, 2024, subject to customary closing conditions [5]. Company Overview - Lilium is focused on creating a sustainable mode of high-speed regional transportation through its all-electric vertical take-off and landing jet, contributing to the decarbonization of air travel [8]. - The company has a strong team of over 1000 employees, including approximately 500 aerospace engineers, and is headquartered in Munich, Germany [8].