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Lilium announces capital raise, to cover estimated funding for first manned flight of type-conforming aircraft

Lil­i­um has announced a cap­i­tal raise for up to $250 mil­lion, with $100 mil­lion fund­ed at close, as it con­tin­ues the devel­op­ment of its eVTOL air­craft.

A short press release from the com­pa­ny, which was released yes­ter­day (Tues­day), said this lat­est invest­ment would cov­er ‘most of the esti­mat­ed cap­i­tal required to achieve first manned flight of the type-con­form­ing air­craft’.

Once this devel­op­ment mile­stone is achieved, which is planned for the sec­ond half of 2024, Lil­i­um expects to ben­e­fit from the con­tri­bu­tion of sub­stan­tial pre-deliv­ery pay­ments (PDPs) which will help fund its sub­se­quent 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 pro­gram 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 has been filed by the Com­pa­ny with the Secu­ri­ties and Exchange Com­mis­sion on May 1, 2023. 

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Jason Pritchard

Jason Pritchard is the Editor of eVTOL Insights. He holds a BA from Leicester's De Montfort University and has worked in Journalism and Public Relations for more than a decade. Outside of work, Jason enjoys playing and watching football and golf. He also has a keen interest in Ancient Egypt.

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