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 launch on the Nasdaq stock exchange on September 15 after its merger with special purpose acquisition company (SPAC) Qell Acquisition Group was approved by shareholders.
- The deal values the combined company at approximately $3.3 billion and is expected to net Lilium about $584 million, making it the third eVTOL developer to go public recently.
- Lilium is developing a seven-seater eVTOL jet featuring 36 ducted fans, designed for a cruise speed of 150 knots and a range of 130 nm, with crewed testing anticipated by the end of 2022 and a commercial launch targeted for 2024.
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