Lilium Seeks Additional Funding for Continued eVTOL Development

The investment will help Lilium with progress on new electric aircraft By Joe Macey / 22 Nov 2022
New investment will fund continued development of new electric aircraft.
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Lilium, developer of the first all-electric vertical take-off and landing jet, has announced the pricing of a $119 million capital raise.

Participants include Honeywell and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent, B. Riley Securities and certain affiliates thereof. Lilium’s new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennström, are also participating.

The fundraising is a concurrent private placement and registered direct offering (RDO).

Citigroup, B. Riley Securities and Piper Sandler are acting as placement agents for the offerings.

Lilium agreed to issue and sell an aggregate of 91,524,936 of the Company’s Class A ordinary shares (the “Shares”), at a price of $1.30 per share; and warrants exercisable for an aggregate of 45,762,463 Shares, with an exercise price of $1.30 per share in the private placement and registered direct offerings.

The offerings are expected to close 22nd November 2022, subject to customary closing conditions. Lilium and its officers and directors have agreed to a lockup of 30 days subject to customary exclusions.

Posted by Joe Macey Joseph Macey is a Content Specialist at Advanced Air Mobility International, focusing on emerging aviation technologies since joining in 2022. He has particular expertise in eVTOLs, vertiports, and propulsion systems. A graduate of Falmouth University in Journalism, Joseph began his career in 2019 as a local reporter. His journalism experience sharpens both his reporting and interview skills, enabling him to deliver well-informed, authoritative insights on the latest trends in the aviation sector. Connect

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