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UPDATE: Lilium confirmed on July 18 that its $192 million capital raise has been successful. In its latest SEC filing, the company estimates that it will require an additional $83 million to fund its operations until the first crewed flight test of its type conforming aircraft next year.
Lilium expects that the capital raise it announced this week will bring its total cash on hand to around $386 million after expenses, according to filings with the U.S. Securities and Exchange Commission.
Related: Lilium CEO Klaus Roewe on the company’s pivot to China
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