Eve Air Mobility has announced US$94 million in new equity financing from multiple investors. The funding, which involves the issuance of new shares of common stock and warrants, includes participation from a diverse group of global industrial companies such as Embraer, Nidec and other financial investors. This new funding strongly positions the company for future success and will support the continued development and manufacturing of its eVTOL (electric vertical take-off and landing) aircraft.
“We appreciate the confidence that these investors are placing in Eve. The new equity, along with existing cash and credit lines, ensures Eve is well positioned as we continue to build momentum and advance in the development and manufacturing of our eVTOL,” said Eduardo Couto, Chief Financial Officer at Eve Air Mobility. “With the industry’s largest pre-order book, featuring letters of intent for 2,900 aircraft and strong programme development partners, Eve has continued to demonstrate the opportunity that our company presents for both strategic and financial investors.”
The company entered into agreements, dated June 28, 2024, for the issuance and sale of 23,500,000 new shares of common stock at a purchase price of US$4.00 per share, the exchange of certain warrants for shares of common stock and the granting of warrants to certain investors. The private placement is expected to result in gross proceeds to Eve of US$94 million, before deducting other offering expenses.
The equity funding is expected to close over the coming weeks, subject to the satisfaction of customary closing conditions. Additional details regarding the equity funding are included in a Form 8-K filed by Eve with the Securities and Exchange Commission (SEC).
