Lilium Announces Successful Arrangement of $114 Million Capital Raise With Participation From Strategic and Existing Investors

Core Viewpoint - Lilium N.V. has successfully raised $114 million in gross proceeds to support its operations and achieve the first manned flight test of the Lilium Jet, targeted for late 2024 [1][2]. Group 1: Capital Raise Details - The $114 million is raised through three transactions: 1. An underwritten public offering of Class A Shares and accompanying warrants for approximately $40 million [2]. 2. A concurrent private placement of Class A Shares and PIPE Warrants for approximately $50 million, with key investors including BIT Capital and Earlybird Venture Capital [2]. 3. A private placement of a pre-funded warrant to Aceville Pte. Limited, an affiliate of Tencent Holdings, funding approximately $24 million [2]. Group 2: Company Insights - Lilium is focused on creating a sustainable and accessible mode of high-speed regional transportation using its all-electric vertical take-off and landing jet, the Lilium Jet [4]. - The company aims to accelerate the decarbonization of air travel, with a team of over 1000 employees, including approximately 500 aerospace engineers [4]. - Lilium has announced sales and interest in various regions, including Europe, the U.S., China, Brazil, the UK, the UAE, and Saudi Arabia [4]. Group 3: Leadership and Future Plans - CEO Klaus Roewe expressed appreciation for the support from both existing and new investors, highlighting the strategic and financial backing as a testament to the company's progress [3]. - Lilium plans to discuss recent developments and progress in its Q1 2024 quarterly shareholder letter, scheduled for release on June 11, 2024 [3].