Lilium unveils jaw-dropping capital raise up to $250 million with an incredible $100 million already funded!
Lilium N.V. (NASDAQ: LILM), the pioneer behind the world’s first electric vertical take-off and landing jet, has disclosed its intention to raise up to $250 million in capital, with $100 million already secured at closing. On May 1, 2023, the Company filed a Form 6-K with the Securities and Exchange Commission. This funding boost will enable to maintain its current momentum in the development of the Lilium Jet, and is expected to cover a substantial portion of the anticipated capital expenditure required to achieve the first manned flight of this innovative aircraft.
Upon achieving this development milestone, scheduled for the latter part of 2024, the company anticipates receiving significant pre-delivery payments (PDPs) that will assist in financing its future capital requirements. Klaus Roewe, CEO of Lilium, said, “Today’s capital raise is a significant step forward in our continued quest to transform the aviation industry. With this infusion of funds, we are thrilled to maintain our current pace of development. We are also engaged in positive talks with both new and existing investors and look forward to sharing further news in due course.”
Additional Business Updates
In the companies Shareholder Letter, which was released on March 28, 2023, the Company showcased its latest accomplishments in achieving significant milestones. These include a successful high-speed Phoenix demonstrator flight, continued commercial momentum, confirmation of the Lilium Jet’s battery technology, certification progress, and progress in their supply chain. These advancements have been instrumental in propelling the Company forward and moving closer to the commencement of production of their first type-conforming aircraft.
Lilium (NASDAQ: LILM) is revolutionizing regional transportation for both people and goods by creating a sustainable and accessible mode of high-speed travel. The Lilium Jet, an electric vertical take-off and landing aircraft, provides superior capacity, low noise, and high performance with zero operating emissions, thus contributing to the decarbonization of air travel. Collaborating with aerospace, technology, and infrastructure experts, they plans to launch networks in Germany, the United States, Brazil, and the United Kingdom. With a team of over 800 members, including approximately 450 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history, Lilium was established in 2015. The Company’s headquarters and manufacturing facilities are situated in Munich, Germany, with teams located across Europe and the U.S.