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, which has closed [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, expected to close in two tranches [2]. 3. A private placement of a pre-funded warrant to Aceville Pte. Limited, an affiliate of Tencent Holdings, funding approximately $24 million, expected to close on or around June 28, 2024 [2]. Group 2: Company Insights - Klaus Roewe, CEO of Lilium, expressed appreciation for the support from both existing and new investors, highlighting the strategic and financial backing from notable figures in the disruptive technology sector [3]. - Lilium aims to create a sustainable mode of high-speed regional transportation using the all-electric Lilium Jet, designed for low noise and zero operating emissions, contributing to the decarbonization of air travel [4]. - The company has a strong team of over 1000 employees, including approximately 500 aerospace engineers, and is headquartered in Munich, Germany, with operations across Europe and the U.S. [4].