QELL - Qell Acquisition takes German all electric air taxi startup Lilium public at $3.3B valuation

Qell Acquisition (QELL) +5.6% premarket, on taking pubic German all-electric vertical takeoff company Lilium GmbH at $3.3B valuation.Munich-based Lilium is in a race with other aviation startups to deploy battery-powered aircraft that can take off and land vertically, offering a new way for travellers to beat urban traffic and hop between cities. The 7-Seater Lilium Jet and regional shuttle service business model are projected to deliver the best unit economics, with passenger and enterprise opportunities.Transaction will provide ~$830M, including ~$380M in cash currently held in trust and $450M PIPE investment, including investments by Baillie Gifford, funds and accounts managed by BlackRock, Tencent, Ferrovial, LGT and its direct impact investing arm Lightrock, Palantir, Atomico, FII Institute and private funds affiliated with PIMCO. Upon closing of the transaction in 2Q21, the company will be called Lilium and will be listed on the Nasdaq under the ticker symbol LILM.Lilium said the combination with Qell, led by Barry

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Qell Acquisition takes German all electric air taxi startup Lilium public at $3.3B valuation