Lilium has initiated a capital raise for up to $250 million, with $100 million funded at close. A Form 6-K was filed by the company with the Securities and Exchange Commission on 1 May, 2023.

This capital raise enables Lilium to continue the development of its Lilium Jet at full pace and would cover most of the estimated capital required to achieve first manned flight of the type-conforming aircraft.

Once this development milestone is achieved, which is planned for the second half of 2024, Lilium expects to benefit from the contribution of substantial pre-delivery payments (PDPs), which will help fund its subsequent capital requirements.

CEO Klaus Roewe says: “The capital raise marks an important development in our ongoing mission to revolutionise the aviation industry. With this financing, we are excited to continue our development programme at full pace. We remain in multiple constructive discussions with existing and potential new investors. We hope to announce further updates soon.”