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, aiming for sustainable, low-noise, zero-emission flights.

• Business strategy includes targeting business aviation customers via private/fractional ownership and selling fleets to commercial operators.

• Proprietary Ducted Electric Vectored Thrust (DEVT) technology offers efficiency, safety, and scalability advantages over open rotor competitors.

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

• Actively evaluates capital raising and strategic opportunities, including joint ventures and partnerships.

Financial performance and metrics

• Recent PIPE and public offerings raised significant capital, with PIPE involving 47,573,111 Class A Shares at $1.05 per share and accompanying warrants.

• Underwritten public offering in May 2024 raised approximately $40 million gross proceeds.

• As of June 7, 2024, 570,342,062 Class A Shares were outstanding, with potential for substantial dilution from warrants and other convertible securities.

Use of proceeds and capital allocation

• Proceeds from warrant exercises (up to $36.7 million if fully exercised) will fund development, operations, supplier payments, and general corporate purposes.

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