Lilium went public via a SPAC merger with Qell Acquisition in a $3.3bn deal.

Lilium, an aviation company, went public via a SPAC merger with Qell Acquisition in a $3.3bn deal. The combined company is expected to receive approximately $830m of gross proceeds from a fully committed common stock PIPE offering of $450m, along with approximately $380m cash held in trust. The PIPE includes participation from Baillie Gifford, BlackRock, Tencent, Ferrovial, LGT, Palantir, Atomico, FII Institute and PIMCO. "We see Lilium as a once-in-a-lifetime opportunity that will be at the forefront of a whole new industry. Lilium has the capacity to revolutionize regional travel, saving people hours so they can quickly travel from city to city. Using its 7-Seater Lilium Jet, Lilium's regional shuttle service should enable sustainable, high-speed transportation. Qell is proud to bring this exciting company to the public markets," Barry Engle, Qell CEO and Co-Founder.