Lilium Announces New Appointments
German eVTOL developer Lilium said its Board of Directors has appointed Oliver Vogelgesang as Chief…
German aerospace company Lilium has announced the pricing of USD$119 million in capital that it will raise from existing shareholders, new investors and strategic partners, noting that the newly-raised funds will go toward funding its eVTOL, dubbed the Lilium Jet.
Its investors include Honeywell, Aciturri, LGT, Lightrock, Tencent, B.Riley Securities, among others.
Klaus Roewe, Lilium’s CEO and three additional board members are also participating in the fundraising, which will take place via a concurrent private placement and registered direct offering. A private placement refers to the sale of stocks, bonds or securities directly to a private investor. Citigroup, B. Riley Securities and Piper Sandler will be acting as placement agents for the offerings.
Lilium has agreed to issue and sell an aggregate of 91,524,936 of the company’s Class A ordinary 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 on November 22.
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