Eve Air Mobility dives to record low after $94 mln equity raise

Eve Holding

01/07/2024 18:51

** Eve Air Mobility's  EVEX.N  shares dive on Mon after
electric aircraft maker announces $94 mln in new equity
financing
    ** EVEX shares drop as much as 22.2% to $3.15, a record low.
Stock last down 18.8% at $3.29 on the session
    ** Eve said early Mon it sold 23.5 mln shares at $4, and
warrants, in private placement to group of global industrial cos
including its controlling shareholder, Brazilian jets maker
Embraer  EMBR3.SA , and Japanese electrical components firm
Nidec  6594.T 
    ** Eve said in statement the funding to support continued
development and manufacturing of eVTOL, its "flying taxi"
    ** Co has ~269.4 mln shares outstanding and ~27.6 mln shares
of public float, per LSEG data
    ** Eve went public in May 2022 after SPAC merger. With move
on Mon, its stock has shed 55% YTD and was trading around $10.50
a year ago

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))