Lilium latest capital raise priced at $119m


Lilium’s (Nasdaq: LILM) latest capital raise has been priced at $119m, the firm said today.

The fundraising, from existing shareholders, new investors, and strategic partners — including Honeywell and Aciturri — is both a private placement and registered direct offering. 

Lilium’s new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennström, are also participating.

Lilium agreed to issue and sell: (a) an aggregate of 91,524,936 of the Company’s Class A ordinary shares, at a price of $1.30 per share; and (b) 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, 2022, subject to conditions. Lilium and its officers and directors have agreed to a lockup of 30 days subject to customary exclusions.

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

Lilium’s shares fell 6% premarket on Friday following the announcement.

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