German eVTOL developer Lilium N.V. plans to lift $119 million from present shareholders, new shareholders, and strategic companions, the corporate introduced.
The corporate mentioned it plans to lift the funding by issuing Class A shares priced at $1.30 per share.
The fundraising marketing campaign will finish November 22. Lilium said in a statement that some buyers dedicated to partaking within the fundraising marketing campaign embrace Honeywell, Aciturri, LGT, Lightrock, Tencent, and B. Riley Securities. Lilium’s new CEO Klaus Roewe, in addition to three extra board members, Barry Engle, David Wallerstein, and Niklas Zennström, additionally would take part, the corporate mentioned.
Lilium beforehand established partnerships with Honeywell and Aciturri, that are each serving to the startup to construct its eVTOL.
Altogether, the corporate will difficulty and hope to promote greater than 91 million shares.
Lilium’s Latest Progress
The corporate is predicted to make use of the funding to help its effort to certify its seven-passenger Lilium Jet. To get there, it might want to full constructing its third demonstrator, Phoenix 3, which it can use for extra testing. The corporate hopes to attain kind certification below EASA (European Union Aviation Security Company) forward of its plan to start business service in 2025.
Lately, Lilium entered an agreement with Saudia, the nationwide airline of Saudi Arabia, which mentioned it might buy 100 Lilium Jets to construct an eVTOL community throughout Saudi Arabia.
Moreover, it introduced in early October that it was partnering with personal jet operator GlobeAir, which plans to buy 12 plane for premium and enterprise air taxi flights to its buyer bases within the French Riviera and Italy.