Lilium plans to go IPO @ Nasdaq through merger

Lilium announces to list on Nasdaq through a merger with the US Qell Acquisition Corp.

Today Lilium announces intention to list on the Nasdaq through a
SPAC merger with Qell Acquisition Corp., and reveals development
of its 7-Seater eVTOL model.

Transaction values the combined company at approximately $3.3 billion pro forma at the $10.00 per share PIPE price. Total gross proceeds to the company are expected to be approximately $830 million, including approximately $380 million in cash currently held in trust (assuming minimal redemptions) and the proceeds of a $450 million PIPE investment, including investments by Baillie Gifford, funds and accounts managed by BlackRock, Tencent,Ferrovial, LGT and its direct impact investing arm Lightrock, Palantir, FII Institute and private funds affiliated with PIMCO.

More info here

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