The Tencent-backed vertical take-off and landing jet developer is joining forces with the Nasdaq-listed Qell Acquisition Corp.
Lilium, a Germany-headquartered aircraft developer backed by internet group Tencent, agreed today to undertake a reverse takeover with special purpose acquisition company Qell Acquisition Corp.
The transaction will give the merged company a $3.3 billion pro forma equity valuation. It will take the spot on the Nasdaq Capital Market acquired by Qell in a $330m initial public offering in October 2020.
Tencent, data analytics service provider Palantir and construction firm Ferrovial are joining Baillie Gifford, LGT and its Lightrock…
