FutureFlight
Lilium Set for Nasdaq Listing as Qell Shareholders Approve SPAC Merger
The German eVTOL aircraft developer's anticipated Nasdaq listing on September 15 is expected to yield around $584 million in funds for its efforts to bring the seven-seater Lilium Jet to market in 2024.
Lilium Jet
Lilium plans to launch air taxi services with its seven-seater eVTOL aircraft from 2024 in locations such as Florida and Germany. (Image: Lilium)

Shareholders in Qell Acquisition Corp. have approved a proposed merger with eVTOL aircraft developer Lilium. In an extraordinary general meeting of the special purpose acquisition company’s stockholders on September 10, more than 98 percent of the votes cast were in favor of combining the businesses, in a process that is expected to close on September 14.

Once the transaction is complete, the combined company’s Class A ordinary shares and redeemable warrants will be listed on New York’s Nasdaq exchange, under the ticker symbols LILM and LILMW, respectively. Trading is expected to begin on September 15.