05:22 PM EDT, 05/23/2024 (MT Newswires) -- Lilium (LILM) said late Thursday it has launched an underwritten public offering of its class A shares and warrants, subject to market conditions.

The company said it also launched a simultaneous private placement of shares and warrants to investors like BIT Capital, Earlybird Venture Capital, and Tencent affiliate Aceville, as well as some Lilium board members.

Lilium will also issue Aceville a pre-funded warrant to buy shares and an accompanying PIPE warrant, the company said.

The investors have agreed to buy shares for $1.05 per share and accompanying warrant, the company said.

Net proceeds will be used to back the company's development and operations and for general corporate purposes, Lilium said.

The company's shares were falling past 5% in recent after-hours activity.

Price: 1.0100, Change: -0.05, Percent Change: -4.72