Eve, a developer of Urban Air Mobility solutions including eVTOL aircraft, has entered into subscription agreements with BNDESPAR, a subsidiary of the Brazilian Development Bank (BNDES), Embraer, and other institutional investors to sell 47.4 million shares of common stock at $4.85 per share.
The offering also includes Brazilian Depositary Receipts (BDRs) subscribed by BNDES, each representing one share of common stock at R$26.21 per BDR. These have been approved for listing on the Sao Paulo Stock Exchange (B3) under the symbol “EVEB31”.
This Registered Direct Offering will give total gross proceeds of $230 million, before deducting placement agent commissions and registered direct offering expenses.
These proceeds will be used to pay for services in Brazil, with the remaining net revenue used for general corporate purposes, such as financing operations, potential business acquisitions or strategic investments, and repayment of debt.
Johann Bordais, Eve’s CEO, commented, “This equity raise marks a significant milestone in our journey. It supports our vision and fuels our mission to transform urban mobility. We’re proud to have BNDES onboard and we deeply value Embraer’s continued commitment to Eve and our program.”
Eduardo Couto, Chief Financial Officer at Eve, stated, “Eve’s dual listing in the United States and Brazil is aligned with our continuous effort to diversify our investor base, bringing new stockholders from different locations.”
