Merger QELLU

Lilium to go public via merger

, SPAC research

Lilium GmbH positioned to be the global leader in regional electric air mobility, with the development of its electric vertical take-off and landing jet, has entered into a definitive business combination agreement with QELL, led by Barry Engle, a former president of General Motors North America, is focused on developing next-generation, sustainable mobility

Lilium's vision is to create a sustainable and accessible mode of high-speed, regional transportation. Using the 7-Seater Lilium Jet, an electric vertical take-off and landing jet, offering leading capacity, low noise and high performance, Lilium is building a transport network and service for people and goods. Working in partnership with world-leading aerospace, technology and infrastructure partners, commercial operations are planned to launch in 2024.

The Anticipated pro forma equity value of $3.3bn and the total gross proceeds to the company are expected to be approximately $830mm from:

JP Morgan Securities LLC and Barclays Capital Inc. are acting as financial and capital markets advisors to QELL. Citi is acting as exclusive financial advisor to Lilium.

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