Aviation startup Lilium will go public through a SPAC deal with former

Lilium, the German aerospace startup, has agreed to go public through a merger with Qell Acquisition Corp.This is the latest deal for the urban air mobility industry, according to the announced SPAC agreement that includes Archer Aviation and Joby Aviation. SPAC is a check-blanking company that was formed as an alternative to an IPO as it raises funds to Buy something But without any operations of their own, they had no assets other than cash, and they traded on the stock exchange before merging with a private company.The transaction, the official announced on Tuesday, represents an aggressive corporate value of $ 2.4 billion and a proactive equity value of $ 3.3 billion for the combined company. $ 830 million from the deal,

including $ 450 million from the สล็อต xo ทดลองเล่นฟรี fully committed PIPE common stock offering and $ 380 million in cash held in the trust.The deal is expected to close in the second quarter, where the combined company will trade on the Nasdaq exchange under LILM.Daniel Wiegand, Lilium CEO and co-founder, said funding should provide the company with enough capital to meet its goal of a commercial launch in the United States and Europe in 2024.The company previously raised $ 400 million, he said.This will allow us to acquire both the operational expertise and knowledge from Barry and his team, as well as financing to get the type certification and to market our aircraft.This is a very big and very important step for us as a company.

Lilium is developing a seven-seat electric vertical take-off and landing aircraft. Some models feature eVTOL as an electric air taxi or "flying car". The company plans to focus primarily on intercity flights rather than shorter city trips. Target launch markets are Florida and Germany.Engle, GM's North American operations chief before leaving the company in August, said the Lilium product was "a well-designed aircraft." He said its proprietary technology included the team at Wiegand. It has built including Tom Enders, a board member and former Airbus CEO, as the main reason for seeking the deal.It's a team that knows what they are doing and can really do what they are doing is a very audacious and ambitious agenda, ”Engle said. So proud to put our name on it.Lilium is expected to start generating revenues in 2024 and achieving pre-tax adjusted profits in 2025, according to Engle and Wiegand.The company expects revenue of $ 3.3 billion by 2026, followed by nearly $ 5.9 billion a year. 2570

SPAC has become an increasingly popular method for companies, especially early-stage startups, to go public in recent years. They are almost guaranteed to appear on their first day as a public company, but not for long. The US SPAC's first-day yield fell near zero in March from 5.4% in February and 6.1% in January, according to Jay Ritter, a professor of finance at the University of Florida.Engle and Wiegand said they were not concerned about short-term volatility or stock performance, which for Qell has fallen about 13 percent since Bloomberg News reported on March 3 that SPAC and Lilium were in talks to amalgamate. Merger We think this is something that will stand the test of time,” Engle said. “Little fluctuations in the short term are not our concern. We are building a business here that will truly grow over the next several decades. Along the way, there will be both good and bad markets. But this will be sustainable JPMorgan Securities and Barclays acted as financial and capital markets advisers to Qell Citi acting as financial advisors. Exclusive to Lilium, the three financial institutions act as agents for aligning leads for PIPE transactions.