Lilium dips after announcing pricing of $119M fundraising

Nov. 18, 2022 8:53 AM ETLilium N.V. (LILM)By: Preeti Singh, SA News Editor

Lilium (NASDAQ:LILM) shares fell 6% premarket on Friday after the eVTOL developer announced the pricing of a $119M capital raise.
The company agreed to issue and sell an aggregate of 91,524,936 of its Class A ordinary shares at a price of $1.30/share and warrants exercisable for an aggregate of 45,762,463 shares, with an exercise price of $1.30/share in the private placement and registered direct offerings.
Participants include Honeywell and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent, B. Riley Securities and certain affiliates thereof. Lilium’s new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennström, are also participating.
The offerings are expected to close on Nov. 22, 2022.