Eve Air Mobility, the Urban Air Mobility (UAM) developer focusing on electric vertical take-off and landing (eVTOL) aircraft, has announced a significant capital raise through a registered direct offering. The company has entered subscription agreements with BNDESPAR, the investment arm of the Brazilian Development Bank (BNDES), Embraer, and other institutional investors to issue and sell 47,422,680 shares of common stock at US$4.85 per share.
The offering includes Brazilian Depositary Receipts (BDRs) subscribed by BNDES, with each BDR representing one share of Eve common stock at a price of R$26.21. The total gross proceeds from the offering are expected to reach US$230 million, prior to deductions for placement agent commissions and estimated offering expenses. The transaction is scheduled to close on August 15, 2025.
The BDRs have been approved for listing on the São Paulo Stock Exchange (B3) under the ticker symbol “EVEB31” and will be delivered to BNDES in Brazil. Eve plans to use the gross proceeds from the BDRs to pay for services performed in Brazil, while the remaining net proceeds from the offering are intended for general corporate purposes. These include funding ongoing operations, financing potential acquisitions or strategic investments, and repaying existing debt.
Eduardo Couto, Chief Financial Officer at Eve, emphasised that the dual listing in the United States and Brazil supports the company’s broader strategy of diversifying its investor base. By attracting stockholders from multiple regions, Eve aims to strengthen its financial position and expand its access to capital to support growth in the emerging UAM market.
This capital raise represents a key milestone for Eve as it continues to develop its suite of UAM solutions. The proceeds will enhance the company’s ability to invest in technology, operations, and strategic initiatives that accelerate the deployment of its eVTOL aircraft and associated infrastructure, positioning Eve as a significant player in the global urban air mobility sector.
