On May 23, 2024, Lilium N.V., a foreign private issuer, announced a comprehensive capital raise through a public offering and concurrent private placements. The company entered into an underwriting agreement with B. Riley Securities, Inc. for the sale of approximately 38 million Class A ordinary shares and accompanying warrants, generating gross proceeds of around $40 million. Simultaneously, Lilium agreed to a private placement (PIPE) with qualified investors for the sale of approximately 47.5 million Class A shares and warrants, resulting in gross proceeds of about $50 million. Additionally, Lilium and Aceville Pte. Ltd., an affiliate of Tencent Holdings Limited, agreed on a pre-funded warrant arrangement for the purchase of over 24 million Class A shares at $1.05 each, with Aceville prepaying $24 million at $1.00 per share. The...Show More

On May 23, 2024, Lilium N.V., a foreign private issuer, announced a comprehensive capital raise through a public offering and concurrent private placements. The company entered into an underwriting agreement with B. Riley Securities, Inc. for the sale of approximately 38 million Class A ordinary shares and accompanying warrants, generating gross proceeds of around $40 million. Simultaneously, Lilium agreed to a private placement (PIPE) with qualified investors for the sale of approximately 47.5 million Class A shares and warrants, resulting in gross proceeds of about $50 million. Additionally, Lilium and Aceville Pte. Ltd., an affiliate of Tencent Holdings Limited, agreed on a pre-funded warrant arrangement for the purchase of over 24 million Class A shares at $1.05 each, with Aceville prepaying $24 million at $1.00 per share. The transactions are expected to close around June 28, 2024, subject to customary closing conditions and shareholder approval for an increase in authorized share capital. The capital raise, including the public offering, PIPE, and Aceville pre-funding, is anticipated to bolster Lilium's cash and cash equivalents to approximately $218 million. The company also terminated a standby equity purchase agreement with YA II PN, Ltd. on May 29, 2024. The detailed terms of the warrants issued in the public offering and PIPE, as well as the Aceville pre-funded warrant, were provided, outlining the exercise prices, adjustments, and conditions. Lilium's press release regarding the capital raise was attached as an exhibit to the report.