Lilium aims for IPO via Spac
The air cab company is aiming for Wall Street. The shell company of an ex-car manager is to help. A billion-euro valuation is on the cards.
The air cab start-up Lilium is probably aiming to go public. This is reported by both the Handelsblatt and the news agency Reuters. The company itself has not yet commented on the rumors.
Allegedly, the Munich-based company is planning to use a Spac to go public. Specifically, it is about Qell Acquisition Corp, the shell company of Barry Engle. Engle was previously head of North America at US car manufacturer General Motors.
Lilium could therefore get ahead of its Bruchsal-based competitor Volocopter, which is also aiming for an IPO via Spac (Startbase reported). US rival Joby Aviation also used this type of IPO in February. Joby, the international market leader in the air cab sector, achieved a valuation of 6.6 billion US dollars. Lilium is said to be valued at only half that amount.
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