Lilium announces $250m capital raise
Lilium has announced a capital raise of up to $250m, with $100m already funded at close.
This latest capital raise enables the German OEM to continue the development of its Lilium Jet at “full pace” and will cover most of the estimated capital required to achieve first crewed flight of the type-conforming aircraft.
Once the first crewed flight is achieved, which is planned for the second half of 2024, Lilium expects to begin to receive a substantial amount of pre-delivery payments to help fund capital requirements.
Lilium CEO Klaus Roewe said: “The capital raise announced today marks an important development in our ongoing mission to revolutionise the aviation industry. With this financing, we are excited to continue our development programme at full pace. We remain in multiple constructive discussions with existing and potential new investors. We hope to announce further updates soon.”
A Form 6-K, a report by foreign private issuers subject to the reporting requirements of the Exchange Act to the SEC to publicly disclose recent material events, has been filed by the Lilium with the SEC on May 1, 2023.
The firm’s share price jumped 38% this morning in the aftermath of the announcement.