Lilium N.V. (NASDAQ:LILM) shares are dropping Friday after the company announced pricing of $114 million in financing.
The Details:
Lilium announced $114 million in financing, including the pricing of a $40 million underwritten public offering of 38,095,238 of the company’s Class A ordinary shares and warrants to purchase 38,095,238 shares, as well as a concurrent $50 million private placement of 47,573,111 Shares and warrants to purchase 47,573,111 shares
Additionally, Lilium will issue to Aceville a pro rata warrant to purchase 24,233,035 shares at an exercise price of $1.05 per share, and Aceville has agreed to partially prepay $1.00 of the total exercise price for an aggregate prepay price of $24.23 million.
Lilium shares are moving lower on heavy trading volume following the announcement. According to data from Benzinga Pro, ...