FutureFlight
Lilium Seeks $250 Million To Sustain Work on eVTOL Aircraft as Share Price Hovers below Minimum
The German company says it already has a commitment for $100 million from an existing investor that is also willing to provide a further $75 million in matching funds.
Lilium is seeking $250 million in new funding for its eVTOL aircraft.
Lilium, which is seeking $250 million in new funding for its eVTOL aircraft, needs to boost its share price to above $1 to preserve its Nasdaq market listing. (Image: Lilium)

Lilium is seeking to raise a further $250 million that it says it needs to continue the development of its six-passenger eVTOL aircraft “at full pace” and be ready to achieve the first flight of a type-conforming vehicle as planned in the second half of 2024. In a 6-K filing with the U.S. Securities and Exchange Commission on May 1, the Nasdaq-listed company reported that Aceville Pte. Limited, which is part of existing investor Tencent Holdings, has already committed the first $100 million and is willing to provide a further $75 million if Lilium can raise the same amount in equity, debt, or grants from third parties.

According to Lilium, it expects to receive the first $100 million cash injection in the next few days. No date has been set for the end of the latest fundraising campaign.