Lilium N.V. announced a private placement to issue 47,573,111 class A common shares at an issue price of $1.05 per share and warrants to purchase 47,573,111 Shares at an exercise price of $1.50 per warrant for the aggregate gross proceeds of $49,951,766.55 on May 23, 2024. The transaction will include participation from returning investors BIT Capital, Earlybird Venture Capital and Aceville and new investors Tencent Holdings Limited, Tencent Mobility (Luxembourg) S.à.r.l., Tencent Mobility Limited, TCH DELTA LIMITED as well as certain Lilium board members. The PIPE Warrants have registration rights.

We expect the initial closing of the PIPE to occur on or around May 31, 2024 and a second closing to occur on or around June 28, 2024, in each case subject to satisfaction of customary closing conditions. We intend to schedule a general meeting of our shareholders in June 2024 to seek shareholder approval for an increase in our authorized share capital in order to reserve Class A Shares issuable upon exercise of the PIPE Warrants.