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By Gabriel Araujo and Rodrigo Viga Gaier

SAO PAULO/RIO DE JANEIRO, Aug 14 (Reuters) - Electric

aircraft maker Eve said on Thursday it has raised $230

million in equity via a registered direct offering that included

fresh funding from BNDESPAR, the investment arm of Brazil's

state development bank BNDES.

WHY IT'S IMPORTANT

The funds will help back the development of Eve's so-called

"flying car," a battery-powered aircraft that can take off and

land vertically to transport travelers on short city trips. Eve

is controlled by Brazilian planemaker Embraer ( ERJ ).

KEY QUOTES

"This equity raise marks a significant milestone in our

journey ... We're proud to have BNDES onboard and we deeply

value Embraer's ( ERJ ) continued commitment to Eve and our program,"

Eve CEO Johann Bordais said in a statement.

BNDES head Aloizio Mercadante said in a separate statement

that the bank's support is a "strategic step" toward placing

Brazil at the forefront of sustainable air mobility and

reinforces its commitment to economic development and job

creation.

BY THE NUMBERS

The offering includes 47,422,680 common shares priced at

$4.85 each and Eve's dual listing in the United States and

Brazil, with BNDES subscribing to Brazilian Depositary Receipts

(BDRs) at 26.21 reais ($4.86) each, according to Eve.

BNDES's investment totals $74.9 million, according to the

development bank. Embraer ( ERJ ) and other unnamed institutional

investors also participated in the transaction, Eve said.

WHAT'S NEXT

Eve plans to use the proceeds from the BDRs to pay for

services performed in Brazil, while the remaining net proceeds

will be used for corporate purposes, including operations,

potential acquisitions, strategic investments, and debt

repayment.

The company expects its electric vertical takeoff and

landing (eVTOL) aircraft to enter into service in 2027.

($1 = 5.3977 reais)