LILM - Small Cap Announces Massive Capital Raise

2023-05-02 09:09:39 ET

A small cap in the %Aerospace industry is turning heads Tuesday morning after the company announced a capital raise for up to $250 million, with $100 million funded at close. A Form 6-K has been filed by the Company with the Securities and Exchange Commission on May 1, 2023, according to the release.

Shares of %LiliumNV (Nasdaq: ) are bid up massively so far during premarket hours, with traders willing to buy shares at $0.5118/share (+33.56% implied open for sellers) at the time of writing. This move comes just one session after the stock hit a fresh 52-week low.

Lilium is creating a sustainable and accessible mode of high-speed, regional transportation for people and goods. Using the %LiliumJet , an all-electric vertical take-off and landing jet, offering leading capacity, low noise, and high performance with zero operating emissions, Lilium is accelerating the decarbonization of air travel. Working with aerospace, technology, and infrastructure leaders, and with planned launch networks announced in Germany, the United States, Brazil and the United Kingdom, Lilium’s 800+ strong team includes approximately 450 aerospace engineers and a leadership team responsible for delivering some of the most successful aircraft in aviation history.