Business Combination Agreement Lilium
MUNICH AND SAN FRANCISCO, September 14, 2021: Lilium GmbH (“Lilium”), positioned as a global leader in regional electric mobility, today announced that it has completed its business combination with Qell Acquisition Corp. (“Qell”), a publicly traded acquisition company (Nasdaq: QELL). The transaction was approved by Qell shareholders on September 10, 2021 at a special meeting where more than 98% of the votes cast were in favor of the business combination. Effective September 15, 2021, the redeemable Common Shares and Class A Warrants of Lilium will trade on Nasdaq under the symbols “LILM” and “LILMW” respectively. MediaMeredith Bell Contact Information, Lilium+41 79 432 57 [email protected]@lilium.com As a result of the business combination, Lilium will receive gross proceeds of approximately $584 million before transaction costs, including funds managed by leading strategic and long-term financial investors, including Atomico, Baillie Gifford, LGT and its subsidiary Impact Investing Platform Lightrock, funds and accounts, managed by BlackRock, Tencent, Ferrovial, Palantir, Honeywell, FII Institute and private funds affiliated with PIMCO. The net liquidity of the transaction will be used to fund the launch of Lilium`s 7-seat jet. Lilium`s current shareholders will contribute 100% of their shares to the combined company. This press release contains certain forward-looking statements within the meaning of federal securities laws, including, but not limited to, statements regarding the business activities and business model proposed by Lilium N.V., the markets and industry in which Lilium N.V. and its subsidiaries (collectively, the “Lilium Group”) intend to operate, the expected timing of the commercialization and launch of the Lilium Group`s activities, and the appointment to the Board of Directors in accordance with amalgamation. These forward-looking statements are generally identified by the words “believe”,” “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “will”, “will”, “will”, “continue”, “likely to result” and similar expressions.
These statements are based on management`s belief or interpretation of the information currently available. Forward-looking statements are predictions, forecasts and other statements about future events that are based on management`s current expectations of future events, based on assumptions, subject to risks and uncertainties and subject to change at any time. Lilium Group will operate in an emerging and rapidly evolving industry. New risks are emerging every day. Given these risks and uncertainties, you should not place undue reliance on or reliance on these forward-looking statements. Actual events or results may differ materially from those contained in any forward-looking forecasts or statements. The above list of factors is not exhaustive. Forward-looking statements relate only to the date they are made.
We caution you not to place undue reliance on forward-looking statements and Lilium Group assumes no obligation and does not intend to update or revise such forward-looking statements, whether as a result of new information, future events or otherwise. For a more detailed list and description of risks, uncertainties and other matters, please see the “Risk Factors” section of our filings with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. All forward-looking statements attributable to Lilium or any person acting on its behalf are expressly qualified in their entirety by this cautionary statement. Lilium creates a sustainable and accessible means of transport for the high-speed regional transport of people and goods. With the 7-seater Lilium Jet, a fully electric vertical take-off and landing aircraft that offers peak capacity, low noise and high performance with zero operating emissions, Lilium accelerates the decarbonization of air traffic. In collaboration with leading aerospace, technology and infrastructure companies, as well as the planned launch networks announced in Germany, the United States and Brazil, commercial operations are expected to begin in 2024. Lilium`s team of more than 700 people includes approximately 400 aerospace engineers and a management team responsible for delivering some of the most capable aircraft in aviation history. Lilium`s headquarters and manufacturing facilities were established in 2015 and are located in Munich, Germany, with teams across Europe and the United States. For more information, see www.lilium.com.
Investor contact detailsBjörn Scheib, Lilium+49 176 417 57 [email protected]@lilium.com Note that this policy may change if the SEC manages SEC.gov to ensure that the site operates efficiently and remains available to all users. Daniel Wiegand, co-founder and CEO of Lilium, said: “With a clear vision that the decarbonisation of aviation is inevitable, in 2015 we set ourselves the goal of building a team and a product that would radically change the way the world evolves. Six years and five generations of technology demonstration aircraft later, we are closer than ever to that goal. Today`s milestone will bring us even closer to launching our service in 2024 and achieving sustainable high-speed regional flights in communities around the world. At the end of his work, Tom Enders will become Chairman of the Board of Directors and will be supported on the Board by Daniel Wiegand, Barry Engle, Gabrielle Toledano, Henri Courpron, David Wallerstein, Niklas Zennström, David Neeleman and Margaret M. Smyth. Tom Enders, Chairman of the Board of Directors, said: “Shareholders, management and more than 700 employees are united in their quest for sustainable aviation for all. It won`t be an easy journey, but we have the technology, team and resources to be very confident that Lilium will make it. Our role as a Board of Directors is to make, supervise, frame and advise strategic decisions.
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