Lilium raises additional US$119 million in share issue

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Lilium has revealed it has an additional US$119 million as a result of a share issue among the company’s existing investors as well as new participants. Partners involved in the issue include Honeywell and Aciturri, as well as LGT and its affiliated impact investor Lightrock, Tencent, and B. Riley Securities. Lilium’s new CEO, Klaus Roewe, and three additional board members, Barry Engle, David Wallerstein and Niklas Zennström, are also participating. Citigroup, B. Riley Securities and Piper Sandler are acting as placement agents for the offerings.

The offerings are expected to close on 22 November 2022. Lilium and its officers and directors have agreed to a lockup of 30 days, subject to customary exclusions.