Air taxi developer Lilium will officially launch on the Nasdaq stock exchange on September 15, the company said, after shareholders of special purpose acquisition company (SPAC) Qell Acquisition Group approved a merger Friday.
Shareholders Approve Lilium Merger
Key Takeaways:
- Air taxi developer Lilium will officially launch on the Nasdaq stock exchange on September 15, trading as "LILM," after shareholders approved its merger with SPAC Qell Acquisition Group.
- The deal values the combined company at approximately $3.3 billion and secures around $584 million in proceeds, making Lilium the third eVTOL developer to go public recently.
- Lilium is developing a 7-seater eVTOL jet with a unique ducted-fan design, aiming for a 2024 commercial launch for high-speed regional travel, with plans for initial operations in Florida and a strategic alliance with Azul in Brazil.
- Former Airbus CEO Thomas Enders will chair the new company's board, supporting Lilium's vision to accelerate the decarbonization of air travel.
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