Eve Air Mobility Announces $94M New Equity to Support eVTOL Development

• New capital financing contains fairness injection participation from massive strategic industrial firms and diversified buyers
• Internet proceeds, together with current money and long-term credit score strains, place firm for future success

MELBOURNE, Fla. – July 1 2024 – Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW), a worldwide electrical vertical take-off and touchdown (eVTOL) plane producer and companies supplier, has introduced $94M in new fairness financing from a number of buyers. The funding, which incorporates the issuance of latest shares of frequent inventory and warrants, contains participation from a various group of worldwide industrial firms that embrace Embraer, Nidec and extra monetary buyers.  The brand new funding strongly positions the corporate for future success and can help the continued growth and manufacturing of the corporate’s eVTOL.

“We recognize the arrogance that these buyers are inserting in Eve. The brand new fairness, together with current money and credit score strains, ensures Eve is properly positioned as we proceed to construct momentum and advance within the growth and manufacturing of our eVTOL,” mentioned Eduardo Couto, chief monetary officer at Eve Air Mobility. “With the trade’s largest pre-order guide with letters of intent for two,900 plane and robust program growth companions, Eve has continued to exhibit the chance that our firm presents for each strategic and monetary buyers.”

The Firm entered into agreements, dated as of June 28, 2024, for the issuance and sale of 23,500,000 new shares of the Firm’s frequent inventory at a purchase order worth of $4.00 per share, the change of sure warrants for shares of frequent inventory, and the granting of warrants to sure buyers. The personal placement is predicted to end in gross proceeds to Eve of $94 million, earlier than deducting different providing bills.

The fairness funding is predicted to shut over the approaching weeks, topic to the satisfaction of customary closing circumstances. Further particulars concerning the fairness funding is included in a Kind 8-Okay filed by Eve with the Securities and Trade Fee (“SEC”).

Eve’s eVTOL plane makes use of eight devoted propellers for vertical flight and glued wings to fly in cruise, with no change within the place of those elements throughout flight. The idea contains an electrical pusher powered by twin electrical motors that present propulsion redundancy with the objective of making certain the best ranges of efficiency and security. Whereas providing quite a few benefits together with decrease value of operation, fewer elements, optimized buildings and methods, it has been developed to supply environment friendly thrust with low noise.

The corporate is finishing meeting of its first full-scale eVTOL prototype which will likely be adopted by a check marketing campaign. Concurrently, Eve continues to develop a complete portfolio of agnostic companies and operations options, together with Vector, a singular City Air Site visitors Administration software program to optimize and scale Superior Air Mobility operations worldwide.  

The Firm has engaged Bradesco BBI as its unique monetary advisor and Skadden, Arps, Slate, Meagher & Flom as its authorized advisor.

The securities being offered within the fairness financing haven’t been registered underneath the Securities Act of 1933, as amended, or state securities legal guidelines and is probably not supplied or offered in the US absent registration with the SEC or an relevant exemption from such registration necessities.  The Firm has agreed to file a registration assertion with the SEC overlaying the resale of the Shares and the shares underlying the Warrants issuable in reference to the Non-public Placement.  

This press launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase these securities. 

Picture: https://eve.imagerelay.com/share/716f968f68a64c62894a7afc3ff7df22

About Eve

Eve is devoted to accelerating the City Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.’s greater than 50-year historical past of aerospace experience, and with a singular focus, Eve is taking a holistic strategy to progressing the UAM ecosystem, with a sophisticated eVTOL venture, a complete international companies and help community and a singular air site visitors administration resolution. Since Could 10, 2022, Eve has been listed on the New York Inventory Trade, the place its shares of frequent inventory and public warrants commerce underneath the tickers “EVEX” and “EVEXW.” For extra info, please go to www.eveairmobility.com. 

Contacts:

Media: media@eveairmobility.com    

Traders: investors@eveairmobility.com

Ahead-Trying Assertion Disclosure Sure statements contained on this launch are forward-looking statements throughout the that means of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements could also be recognized by phrases reminiscent of “could,” “will,” “count on,” “intend,” “anticipate,” “imagine,” “estimate,” “plan,” “venture,” “might,” “ought to,” “would,” “proceed,” “search,” “goal,” “steerage,” “outlook,” “if present tendencies proceed,” “optimistic,” “forecast” and different comparable phrases or expressions. All statements, aside from statements of historic details, are forward-looking statements, together with, however not restricted to, statements concerning the firm’s plans, aims, expectations, outlooks, projections, intentions, estimates, and different statements of future occasions or circumstances, together with with respect to all firms or entities named inside. These forward-looking statements are primarily based on the corporate’s present aims, beliefs and expectations, and they’re topic to important dangers and uncertainties which will trigger precise outcomes and monetary place and timing of sure occasions to vary materially from the data within the forward-looking statements. These dangers and uncertainties embrace, however aren’t restricted to, these set forth herein in addition to in Half I, Merchandise 1A. Danger Elements and Half II, Merchandise 7. Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations of the corporate’s most up-to-date Annual Report on Kind 10-Okay, Half I, Merchandise 2. Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations and Half II, Merchandise 1A. Danger Elements of the corporate’s most up-to-date Quarterly Report on Kind 10-Q, and different dangers and uncertainties listed occasionally within the firm’s different filings with the Securities and Trade Fee. Moreover, there could also be different components of which the corporate is just not at present conscious which will have an effect on issues mentioned within the forward-looking statements and may trigger precise outcomes to vary materially from these mentioned. The corporate doesn’t assume any obligation to publicly replace or complement any forward-looking assertion to replicate precise outcomes, modifications in assumptions or modifications in different components affecting these forward-looking statements. aside from as required by legislation. Any forward-looking statements communicate solely as of the date hereof or as of the dates indicated within the assertion.

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