LILM - Lilium to sell Class A shares in public offering concurrent private placement

2023-07-13 17:14:08 ET

• Lilium N.V. ( NASDAQ: LILM ) has launched an underwritten public offering of Class A ordinary shares as well as a concurrent private placement offering of shares and warrants, the company said Thursday.
• The offering will be led by Earlybird Venture Capital and include BIT Capital, UVC Partners, and Frank Thelen, as well as multiple Lilium board members and senior executives.
• In addition, Aceville, an affiliate of Tencent Holdings, will fund an additional $75.0 million to partially prepay against the total exercise price of the warrants, assuming that the underwritten public offering and the concurrent PIPE generate at least $75.0 million of gross proceeds.
• The underwriter has the option to purchase up to 15% of the additional shares sold in the offering.
• B. Riley Securities is serving as the sole bookrunner and underwriter for the offering.
• The net proceeds from the offering will be used for general corporate purposes.
• Press Release .
• Shares -6.5% at $1.59 after hours.

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