Lilium has successfully concluded its previously announced capital raise, resulting in $114 million of new gross proceeds that will be used to support operations to achieve the first manned flight test of the Lilium Jet, targeted to occur in late 2024.

The $114m is being raised through three transactions that stagger in duration with the final closure on or around 28 June, 2024.

CEO Klaus Roewe comments: "We appreciate the support from existing Lilium partners and new investors alike. We have a robust set of strategic and financial investors that are comprised of some of the brightest minds in the disruptive technology sector, and their consistent support, including participation in this capital raise, is a testament to the progress we are making in bringing the revolutionary Lilium Jet to market."

Lilium intends to further discuss its recent developments and progress with the release of its Q1 2024 quarterly shareholder letter on 11 June, and will host a conference call that same day.