Lilium closes business with Qell Acquisition Corp, will begin trading on Nasdaq on September 15 under the symbol "LILM"
- In a short time, the company announced that it had completed its business together with Qell Acquisition Corp. ("Qell"), whose name is not listed in the public. Qell's shareholders approved the transaction on September 10, 2021, during a special meeting where more than 98% of the votes were in favor of 'business combination'. Since September 15, 2021, Lilium's Class A ordinary shares and redeemable warrants will trade on the Nasdaq under the symbols "LILM" and "LILMW" respectively.
Daniel Wiegand, founder and CEO of Lilium said: It isn't the case.
In 2015, with the clear vision that the decarbonization of aviation is inevitable, we began to build a team and product that would transform the world's progress in radically. We're closer than ever to this goal, six years and five generations later. Today's milestone will bring us closer to launching our service in 2024 and making sustainable, high-speed regional air travel a reality to communities around the world."
With the business combination, Lilium will receive approximately $584 million of gross proceeds prior to transaction expenses, including from the funds managed by leading strategic and long-term financial investors including Atomico, Baillie Gifford, LGT and The net cash from the transaction will be used to fund the commercial launch of Lilium's 7-seater jet. Lilium's existing shareholders will roll their shares 100% into the combined company.
Barry Engle, CEO and co-founder of Qell, said: "It's an achievement that the CEO of the Qal Corporation is a good idea."
"We see Lilium as a once-in-a-lifetime opportunity that will be at the forefront of interdisciplinary endeavors. Lilium is able to revolutionize regional travel, saving money for people so they can quickly travel from city to city. Lilium's regional shuttle service will provide a high-speed transportation with its 7-seater shuttle. Qell is proud to introduce this exciting company to the public markets."
Tom Enders will become President of the Board of Directors, joining Daniel Wiegand, Barry Engle, Gabrielle Toledano, Henri Courpron, David Wallerstein, Niklas Zennstrm,
Tom Enders, Chairman of the Board, said: "The Chairman said that:
"Shareholders, management and more than 700 employees are united in their quest for a sustainable aviation for everybody. It will not be an easy journey but we have the technology, the team and the resources to be very confident that Lilium will make it happen. The role of a board of directors is to make strategic decisions, to supervise, and to coach us and advise. I'm proud to lead one of the most diverse and competent Boards in our industry.
Advice is an expert.
JP Morgan Securities LLC and Barclays Capital Inc. acted as financial and capital markets advisors to Qell. Citigroup Global Markets Inc. led the PIPE transaction. Orrick Herrington & Sutcliffe LLP and Ropes / Gray lilies served as legal advisors. Goodwin Procter LLP served as a legal adviser to Qell. JPMorgan Securities LLC and Barclays Capital Inc. acted as joint book-running managers of Qell's IPO.
Lilium is creating a sustainable and accessible mode of transportation for people and goods. With the 7-Seater Lilium Jet, an all-electric vertical take-off and landing jet, offering leading capacity, low noise and low performance with zero operating emissions, Liliium accelerates the decarbonization of air travel. With the planned launch networks announced in Germany, the United States and Brazil, commercial operations are expected to begin in 2024. Lilium's 700+ strong team includes approximately 400 aerospace engineers and a leadership team responsible for delivering some of the best aircraft in aviation history. Lilium founded in 2015, its headquarters and manufacturing facility are in Munich, Germany, with a team from across Europe and the U.S.
Statements for the future: a view of the past:
The Lium Group, the market and industry in which the Liium Group will operate, a timing of the commercialization and launch of Lilium's business and the appointments to the post-combination board. These forward-looking statements generally are identified by the words "believe," "project," 'expect,"/anticipate,""intend," (strategy,"," and "the horizon," or " Such statements are based on management's belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on management's current expectations of future decisions and are subject to risk and uncertainties and subject the changes at any time. The Lilium Group will operate in a rapidly changing emerging industry. Every day, new risks arise. Given these risks and uncertainties, you shouldn't rely on these forward-looking statements or make an unreasonable claim. Actual events or results may differ materially from those contained in the projections or forward-looking statements. The impact of COVID19 on the business of Lilium, and the whole of the company; (ii) the ability of this business partner to achieve business plans, operating models, forecasts, etc. and identify and realize additional The foregoing list of factors isn't exhaustive. Forward-looking statements speak only as of the date they're made. If you don't allow for an unreliable reliance on forward-looking statements, the Lilium Group assumes no obligation to update or revise these forward forwardlooking reports, unless it's due to new information, To find out more about risks, uncertainties and other matters, please read the section on the "Risk Factors" section in our filings with the US Securities and Exchange Commission, which is available at www.sec.gov. By this cautionary statement, all forward-looking statements attributable to Lilium or any person acting for its behalf expressly qualify in their entirety, the statements express and express to the extent they are deemed acceptable.
Meredith Bell, Lilium +41 79 432 57 78 [email protected] [semi protected].
[email protected] [Email protection] Investor Relations Bjrn Scheib, Lilium +49 176 417 57 335 [inty protected], [entia protected].