The company hopes to achieve type certification under EASA (European Union Aviation Safety Agency) ahead of its plan to begin commercial service in 2025. [Courtesy: Lilium]
Key Takeaways:
German eVTOL developer Lilium plans to raise $119 million through the issuance of Class A shares at $1.30 per share, with participation from existing and new investors, and strategic partners, by November 22.
The funding is intended to support the certification of its seven-passenger Lilium Jet, including the completion of its *Phoenix 3* demonstrator, aiming for EASA type certification before its 2025 commercial service launch.
Lilium has recently made significant progress, securing agreements to provide 100 Lilium Jets to Saudia for an eVTOL network and partnering with GlobeAir for 12 aircraft for premium air taxi flights.
German eVTOL developer Lilium N.V. plans to raise $119 million from existing shareholders, new shareholders, and strategic partners, the company announced.
The company said it plans to raise the funding by issuing Class A shares priced at $1.30 per share.
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Michael Wildes holds a master’s degree in Logistics & Supply Chain Management, and a bachelor’s degree in Aeronautical Science, both from Embry-Riddle Aeronautical University. Previously, he worked at the university’s flight department as a Flight Check Airman, Assistant Training Manager, and Quality Assurance Mentor. He holds MEI, CFI & CFII ratings. Follow Michael on Twitter @Captainwildes.
