Lilium has successfully closed a $119 million capital raise from existing shareholders, new investors and strategic partners. Participants include Honeywell and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent, B Riley Securities and certain affiliates thereof. Lilium CEO Klaus Roewe, as well as board members Barry Engle, David Wallerstein and Niklas Zennström, also participated.

“We are pleased to have such a high-quality group of supporters in a challenging macro environment," says Roewe. "These proceeds are expected to strengthen our balance sheet and advance our commercialisation efforts, including signing of customer agreements with pre-delivery payments, reaching an agreement with EASA on our Means of Compliance and commencing assembly of the type-conforming aircraft for the final manned flight test campaign.”

Honeywell vice president and general manager of urban air mobility Stéphane Fymat adds: “Honeywell and Lilium share a common vision of the importance of electric aviation and the positive impact it will have on air transportation and decarbonisation. We are proud to partner with Lilium as the provider of the avionics systems, flights controls and electric motors used to guide and power its revolutionary electric jet.”

The capital raise was a concurrent private placement and registered direct offering (RDO). Citigroup, B Riley Securities and Piper Sandler acted as placement agents for the offerings. Lilium intends to use the net proceeds from the offerings to continue to fund its operations, develop the Lilium Jet and for general corporate purposes, which may include payment of Lilium's suppliers and working capital uses.