Lilium files to sell 3.1M Class A ordinary shares for holders 17:0802/0302/03/23
Lilium joins forces with GKN Aerospace for Lilium Jet's EWIS » 07:4001/3101/31/23
Lilium and GKN Aerospace…
Lilium and GKN Aerospace have signed an agreement to work together to design and build an integrated and certifiable EWIS solution. From its facility in the Netherlands, GKN Aerospace will build the EWIS hardware sets and support Lilium with on-site installation into the Lilium Jet at Lilium's final assembly line at Oberpfaffenhofen, Germany. GKN Aerospace has a significant track record in the design and build of certifiable EWIS solutions within the aerospace industry. The scope of the collaboration covers the integrated design of the low voltage and high voltage electrical interconnections of the Lilium Jet. This includes: integration of all wire bundles in the Lilium Jet; integration of the electrical EWIS components into operational systems to safely fly the Lilium Jet; and development of innovative high voltage, high power interconnection solutions. Yves Yemsi, Chief Operating Officer at Lilium, said: "We're proud to have brought another outstanding aerospace player onto the Lilium Jet team. GKN Aerospace has enormous experience developing certifiable EWIS systems and impressed us with their dedicated offering for the Lilium Jet. We are looking forward to driving ahead on our program with GKN Aerospace at our side."
|Over a month ago|
Lilium price target lowered to $7 from $9 at Piper Sandler » 06:3312/0712/07/22
Piper Sandler analyst…
Piper Sandler analyst Alexander Potter lowered the firm's price target on Lilium to $7 from $9 and keeps an Overweight rating on the shares post the Q3 results. Lilium is "still pursuing certification for its electric jet, and as a result we don't expect revenue until mid-decade," Potter tells investors in a research note. However, the analyst feels shareholders "should feel heartened by Lilium's progress over the past 90 days."
Lilium downgraded to Underweight from Equal Weight at Barclays » 05:5912/0712/07/22
Barclays analyst David…
Barclays analyst David Zazula downgraded Lilium to Underweight from Equal Weight with a price target of $1, down from $2. While Lilium maintains significant long-term potential if regulatory approval can be achieved, the potential for further dilution "warrants caution," Zazula tells investors in a research note. Given the company's "sizable unfunded spending needs through certification," equity holders should be conscious of additional issuance and corresponding reduction in ownership stake, says the analyst.
Lilium announces contract with eVolare » 06:3912/0512/05/22
Lilium announced a…
Lilium announced a contract with eVolare, a subsidiary of Volare Aviation, one of the United Kingdom's largest helicopter and private jet operators. This partnership includes a firm commitment for ten Lilium Pioneer Edition Jets, with an option to reserve an additional ten Lilium Pioneer Edition Jets. eVolare will be Lilium's lead partner and launch operator in the UK for sales of the Lilium Jet to private individuals.
Lilium closes $119M capital raise to fund development of new electric aircraft » 07:0511/2311/23/22
LILM, HON, TCEHY
Lilium (LILM) announced…
Lilium (LILM) announced the successful closing of a $119M capital raise from existing shareholders, new investors, and strategic partners. Participants include Honeywell (HON) and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent (TCEHY), B. Riley Securities and certain affiliates thereof. The closing of the capital raise occurred in part yesterday with closing for certain investors occurring shortly hereafter. Lilium's new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennstrom, also participated. "We are pleased to have such a high-quality group of supporters in a challenging macro environment. These proceeds are expected to strengthen our balance sheet and advance our commercialization efforts including signing of customer agreements with pre-delivery payments, reaching an agreement with EASA on our Means of Compliance, and commencing assembly of the type-conforming aircraft for the final manned flight test campaign," CEO Klaus Roewe said.
Lilium NV options imply 20.9% move in share price post-earnings » 14:1911/2211/22/22
Pre-earnings options volume in Lilium NV is normal with calls leading puts 9:4. Implied volatility suggests the market is anticipating a move near 20.9%, or 0c, after results are released. Median move over the past eight quarters is 2.9%.
Lilium announces pricing of $119M capital raise » 08:4711/1811/18/22
Lilium announced the…
Lilium announced the pricing of a $119 million capital raise from existing shareholders, new investors, and strategic partners. Participants include Honeywell and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent, B. Riley Securities and certain affiliates thereof. Lilium's new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennstrom, are also participating. The fundraising is a concurrent private placement and registered direct offering. Citigroup, B. Riley Securities and Piper Sandler are acting as placement agents for the offerings. Lilium agreed to issue and sell: an aggregate of 91,524,936 of the Company's Class A ordinary shares, at a price of $1.30 per share; and warrants exercisable for an aggregate of 45,762,463 Shares, with an exercise price of $1.30 per share in the private placement and registered direct offerings. The offerings are expected to close on November 22, 2022, subject to customary closing conditions. Lilium and its officers and directors have agreed to a lockup of 30 days subject to customary exclusions.
Lilium NV options imply 21.0% move in share price post-earnings » 15:1911/1611/16/22
Pre-earnings options volume in Lilium NV is normal with calls leading puts 18:1. Implied volatility suggests the market is anticipating a move near 21.0%, or 36c, after results are released. Median move over the past eight quarters is 4.8%.
Lilium price target lowered to $2 from $5 at Barclays » 06:2211/1511/15/22
Barclays analyst David…
Barclays analyst David Zazula lowered the firm's price target on Lilium to $2 from $5 and keeps an Equal Weight rating on the shares. Electric vertical take-off and landing aircraft producers continue to show steady progress, but after Joby's announced delay in commercial operations, investors are likely to place increased emphasis on capital sufficiency across the industry, Zazula tells investors in a research note.