Lilium (LILM) Registration Filing summary

Company overview and business model

• Focuses on developing electric vertical take-off and landing (eVTOL) aircraft for high-speed, regional air mobility networks, aiming for zero operating emissions and reduced travel times.

• Business model targets both business aviation customers (private/fractional ownership) and enterprise solutions (fleet sales to operators), with related aftermarket services.

• Current efforts are on finalizing Lilium Jet design, certification with EASA and FAA, supplier quality, and manufacturing capacity build-out.

• Funding strategy includes a mix of cash on hand, non-dilutive financing (debt, government support, pre-delivery payments), and dilutive equity issuances.

• Evaluates strategic opportunities, including joint ventures and partnerships, which may involve additional equity issuance.

Financial performance and metrics

• Recent PIPE raised $48.7 million through sale of 46,338,225 Class A Shares at $1.05 per share and accompanying warrants.

• Underwritten public offering in May 2024 raised $40 million through sale of 38,095,238 Class A Shares at $1.05 per share and warrants.

• Issued a pre-funded warrant to Aceville for $24 million, partially prepaid at $1.00 per share.

• 3,000,000 Class A Shares issued to Palantir in settlement of a commercial payable.

Use of proceeds and capital allocation

• Proceeds from warrant exercises (if fully exercised for cash) could total approximately $69.9 million, intended for continued development, operations, supplier payments, and general corporate purposes.

• No proceeds from resale of shares/warrants by selling securityholders; only from cash exercises of warrants.