World Lilium: Munich air taxi startup to prepare for an IPO using SPAC

14:45  04 march  2021
14:45  04 march  2021 Source:   t3n.de

Munich missed the jump to second place

 Munich missed the jump to second place Red Bull Munich missed the return to second place in the South Group in the PENNY DEL. In Straubing it is only enough to win after extra time. © Provided by sport1.de Munich missed jump to second place Red Bull Munich missed the return to second place in the south group in the PENNY DEL.

According to a media report, Lilium is to negotiate an IPO with a US acquisition company. The air taxi startup from Munich has been a unicorn since last year.

Die Lilium-Gründer vor ihrem fünfsitzigem Flugtaxi. © Lilium The Lilium founders in front of their five-seat air taxi.

Bloomberg , citing insiders who are not mentioned by name, reports that Lilium is in talks with Quell Acquisition about a possible IPO of the air taxi startup. Quell Acquisition was founded at the end of 2020 by the former General Motors boss Barry Eagle as a Special Purpose Acquisition Company (SPAC). This is understood to mean shell companies that are specifically brought onto the stock exchange in order to later merge with another company. For the company taken over, this represents an alternative to a classic IPO. According to the company,

Lucid Motors goes public and takes $ 4.4 billion.

 Lucid Motors goes public and takes $ 4.4 billion. The e-car startup is merging with a listed company shell - a so-called SPAC. With more money from oil multinationals and investors, Lucid wants to attack the luxury segment. © Lucid The Lucid Air will initially be available in a luxury version and later as an upper middle class sedan. The combined company is said to be worth $ 24 billion in the end. However, this is only possible in steps. The "Special Purpose Acquisition Company" (SPAC), the shell company, only raised $ 2.1 billion when it wen

Quell Acquisition aims to merge with a mobility company that has a company valuation of more than one billion US dollars. That applies to Lilium. At of the last financing round in 2020 , the air taxi maker founded six years ago was valued at more than one billion dollars for the first time. What would speak against the merger, however, is that Quell's founder Eagle had only declared in December that his company is primarily looking for infrastructure providers from the mobility sector. This refers to providers of hardware for charging stations or software for self-driving cars.

air taxi startups are heading for the stock market: Lilium's competitors are also banking on the SPAC boom

SPACs are currently in vogue with investors. Almost 250 such shell companies went public in the USA in 2020. And the trend continues this year: In the first two months of the year alone, investors have already put almost 50 billion dollars into such investment vehicles - without knowing beforehand which company they will ultimately invest in. Some of Lilium's US competitors have also jumped on this bandwagon.

For example, the Californian air taxi startup Archer Aviation is merging with Atlas Crest Investment and is listed on the New York Stock Exchange. The competitor Joby Aviation, also based in California, is to be brought onto the trading floor through a merger with SPAC Reinvent Technology Partners. And the New York air taxi company Blade will be placed on the US technology exchange Nasdaq via a merger with SPAC Experience Investment.

Also interesting: flying taxis: only every 10th company will survive

Next billion-SPAC: Shutterfly wants to go back to the stock exchange .
The US photo service provider Shutterfly is apparently pulling back onto the trading floor. According to reports, however, he does not choose a classic IPO, but rather joins the growing number of companies that use the abbreviation for this by means of a SPAC. © Provided by Finanz.net Mario Vedder / Getty Images • Shutterfly could come back on the stock exchange • Negotiations with a SPAC • Sales benefit from Corona crisis The Shutterfly Inc.

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