Lilium N.V., an electric aircraft company listed on NASDAQ under the ticker LILM, has announced an Extraordinary General Meeting of shareholders to be held on May 30, 2024. The meeting will take place in Amsterdam at the offices of Freshfields Bruckhaus Deringer LLP. In conjunction with this announcement, Lilium has also entered into a Standby Equity Purchase Agreement with YA II PN, Ltd., commonly known as Yorkville, on May 3, 2024. This agreement grants Lilium the right to sell up to $150 million of its class A ordinary shares to Yorkville over a three-year period, subject to certain conditions and limitations. The company has the discretion to decide the timing and amount of shares to be sold, with the caveat that Yorkville's...Show More

Lilium N.V., an electric aircraft company listed on NASDAQ under the ticker LILM, has announced an Extraordinary General Meeting of shareholders to be held on May 30, 2024. The meeting will take place in Amsterdam at the offices of Freshfields Bruckhaus Deringer LLP. In conjunction with this announcement, Lilium has also entered into a Standby Equity Purchase Agreement with YA II PN, Ltd., commonly known as Yorkville, on May 3, 2024. This agreement grants Lilium the right to sell up to $150 million of its class A ordinary shares to Yorkville over a three-year period, subject to certain conditions and limitations. The company has the discretion to decide the timing and amount of shares to be sold, with the caveat that Yorkville's ownership cannot exceed 9.99% of Lilium's voting power. Additionally, Lilium has agreed to pay Yorkville a commitment fee of 1 million ordinary shares and a structuring fee of $25,000. The agreement does not obligate Lilium to utilize the full amount available, nor does it impose minimum usage penalties or restrict the company's operations. The shares issued under this agreement will be registered for resale, and the offer and sale of these shares are exempt from registration under the Securities Act of 1933. The announcement also contains forward-looking statements regarding Lilium's business expectations and funding needs.