Lilium N.V. Authorizes Up to $100M At-the-Market Equity Offering
Ticker: LILMF · Form: 6-K · Filed: Jul 29, 2024 · CIK: 1855756
| Field | Detail |
|---|---|
| Company | Lilium N.V. (LILMF) |
| Form Type | 6-K |
| Filed Date | Jul 29, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $100 million, $33 million, $67 million, $30,000,000, $10,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-offering, capital-raise, financing
TL;DR
Lilium is cashing in, authorized to sell up to $100M in stock.
AI Summary
Lilium N.V. announced on July 26, 2024, that its Board of Directors has authorized an at-the-market equity offering. The company may sell up to $100 million of its Class A ordinary shares.
Why It Matters
This move allows Lilium to raise capital opportunistically, which could fund ongoing development and operations for their electric vertical take-off and landing (eVTOL) aircraft.
Risk Assessment
Risk Level: medium — At-the-market offerings can dilute existing shareholders and may indicate a need for capital, but also provide flexibility for funding.
Key Numbers
- $100M — At-the-Market Offering Limit (Maximum capital Lilium can raise through this equity offering.)
Key Players & Entities
- Lilium N.V. (company) — Registrant
- $100 million (dollar_amount) — Aggregate offering price limit
- July 26, 2024 (date) — Date of authorization
- Class A ordinary shares (security) — Shares to be offered
FAQ
What is the purpose of the at-the-market equity offering?
The filing states the Board of Directors authorized the company to enter into the offering, allowing it to offer and sell shares from time to time, implying a need for flexible capital raising.
What type of shares will be offered?
Lilium will offer its Class A ordinary shares, with a nominal value of €0.01 per share.
When was this offering authorized?
The Board of Directors authorized the company to enter into the at-the-market equity offering on July 26, 2024.
What is the maximum amount Lilium can raise from this offering?
The aggregate offering price of the shares that may be offered is up to $100 million.
Is this a new development for Lilium?
This filing (Form 6-K) reports on the authorization of the at-the-market equity offering, indicating a current strategic financial move by the company.
Filing Stats: 1,496 words · 6 min read · ~5 pages · Grade level 11.5 · Accepted 2024-07-26 18:01:34
Key Financial Figures
- $100 million — ng an aggregate offering price of up to $100 million (the “Shares”). In furthera
- $33 million — dquo;B. Riley”). Initially, up to $33 million of the Shares will be offered pursuant
- $67 million — ities Act. We expect that the remaining $67 million of the Shares will be offered pursuant
- $30,000,000 — ctions) in any quarter shall not exceed $30,000,000 and in any month shall not exceed $10,0
- $10,000,000 — 0,000 and in any month shall not exceed $10,000,000. Only one principal sale may be request
- $200 million — ation of the Company shall not be below $200 million at the time of issuance of any agency p
Filing Documents
- tm2420253d1_6k.htm (6-K) — 21KB
- tm2420253d1_ex4-1.htm (EX-4.1) — 321KB
- tm2420253d1_ex5-1.htm (EX-5.1) — 69KB
- 0001104659-24-083086.txt ( ) — 411KB
Forward-Looking Statements
Forward-Looking Statements The information contained in this Report on Form 6-K contain certain forward-looking statements within the meaning of the U.S. federal securities laws, including, but not limited to, statements regarding the sale of Shares under the Sales Agreement. These forward-looking statements generally are identified by the words “may,” “shall,” “will,” “would” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on management’s current expectations with respect to future events and are based on assumptions and are subject to risks and uncertainties that are subject to change at any time. Actual events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking statements in this Report on Form 6-K include (but are not limited to) the risk that Lilium experiences delays in obtaining, or fails to obtain, type certification for the Lilium Jet in applicable jurisdictions and/or the other markets that it conducts or intends to conduct sales activities, as well as those risks and uncertainties discussed in Lilium N.V.’s filings with the SEC, including in the section titled “Risk Factors” in Lilium N.V.’s Annual Report on Form 20-F for the year ended December 31, 2023 on file with the SEC, the Report on Form 6-K filed on July 18, 2024 with the SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and the Lilium Group assumes no obligation to, and does not intend to, update,
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: July 26, 2024 Lilium N.V. By: /s/ Klaus Roewe Name: Klaus Roewe Title: Chief Executive Officer and Executive Director EXHIBIT INDEX Exhibit Number Description of Document 4.1 At Market Issuance Sales Agreement, dated July 26, 2024, by and between Lilium N.V. and B. Riley Securities, Inc. 5.1 Opinion of Freshfields Bruckhaus Deringer LLP 23.1 Consent of Freshfields Bruckhaus Deringer LLP (included in Exhibit 5.1)