Eve Air Mobility Announces “USD94 Million New Equity to Support eVTOL Development”

Eve Air Mobil­i­ty announced this week a new USD94 mil­lion equi­ty financ­ing from mul­ti­ple investors, reports a press release. 

The release explains, “The fund­ing, which includes the issuance of new shares of com­mon stock and war­rants, includes par­tic­i­pa­tion from a wide group of glob­al indus­tri­al com­pa­nies that include Embraer, Nidec and addi­tion­al finan­cial investors. This new invest­ment will sup­port the con­tin­ued devel­op­ment and man­u­fac­tur­ing of the company’s eVTOL.”

Eve has entered into var­i­ous agree­ments, for the issuance and sale of 23,500,000 new shares of the company’s com­mon stock at a pur­chase price of USD4 per share, that includes the exchange of cer­tain war­rants for shares of com­mon stock and the grant­i­ng of war­rants to cer­tain investors. The pri­vate place­ment is expect­ed to result in gross pro­ceeds to Eve of USD94 mil­lion, before deduct­ing oth­er offer­ing expens­es. This equi­ty fund­ing is expect­ed to close over the com­ing weeks, sub­ject to the cus­tom­ary clos­ing con­di­tions.

Eduar­do Couto, CFO at Eve Air Mobil­i­ty, remarked, “The new equi­ty, along with exist­ing cash and cred­it lines, ensures Eve is well posi­tioned as we con­tin­ue to build momen­tum and advance in the devel­op­ment and man­u­fac­tur­ing of our eVTOL.”

He con­tin­ued, “With the industry’s largest pre-order book with Let­ters of Intent for 2,900 air­craft and strong pro­gram devel­op­ment part­ners, Eve has con­tin­ued to demon­strate the oppor­tu­ni­ty that our com­pa­ny presents for both strate­gic and finan­cial investors.”

Eduar­do Couto

The release con­tin­ues, “The secu­ri­ties being sold in the equi­ty financ­ing have not been reg­is­tered under the Secu­ri­ties Act of 1933, as amend­ed, or state secu­ri­ties laws and may not be offered or sold in the Unit­ed States absent reg­is­tra­tion with the SEC or an applic­a­ble exemp­tion from such reg­is­tra­tion require­ments. The Com­pa­ny has agreed to file a reg­is­tra­tion state­ment with the SEC cov­er­ing the resale of the Shares and the shares under­ly­ing the War­rants issuable in con­nec­tion with the Pri­vate Place­ment.”

Eve has engaged Brade­sco BBI as its exclu­sive finan­cial advi­sor and Skad­den, Arps, Slate, Meagher & Flom as legal advi­sor.

Mean­while, the com­pa­ny is com­plet­ing assem­bly of its first full-scale eVTOL pro­to­type which is to be fol­lowed by a tri­al cam­paign. Con­cur­rent­ly, Eve con­tin­ues to devel­op a com­pre­hen­sive port­fo­lio of agnos­tic ser­vices and oper­a­tions solu­tions, includ­ing Vec­tor, a unique Urban Air Traf­fic Man­age­ment soft­ware to opti­mise and scale Advanced Air Mobil­i­ty oper­a­tions world­wide.  

For more infor­ma­tion

https://www.eveairmobility.com

(Top image: Present con­struc­tion of Eve Air Mobil­i­ty eVTOL)

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