Air taxi developer Lilium falls on share offering

Lilium NV

14/07/2023 13:09

** Shares of Lilium N.V.  LILM.O  down 8.3% at $1.56
premarket after air taxi developer announces $192 mln financing
    ** Germany-based firm sells ~57.7 mln shares for $75 mln in
public offering and ~32.1 mln shares and warrants for $42 mln in
PIPE (private investment in public equity)
    ** All shares sold at $1.30, which represents 23.5% discount
to stock's last sale on Thurs
    ** Also, Aceville, an affiliate of Tencent Holdings
 0700.HK , to fund an additional $75 million to partially prepay
against total exercise price ($2) of the warrants
    ** Co has ~380.8 mln shares as of Jul 5, per latest SEC
filing
    ** Co to use net proceeds from offering for general corp
purposes
    ** LILM shares have more than tripled over the past three
months and are up 49% YTD through Thurs close
    ** BTIG acted as sole bookrunner for public offering and
sole placement agent for PIPE

 (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))