Eve Air Mobility announces $94 million in new capital to support eVTOL development

• The new capital financing includes participation in equity injections from large strategic industrial companies and diversified investors
• The net proceeds, together with existing cash and long-term credit lines, position the company for future success.

MELBOURNE, Fla., July 1, 2024 /PRNewswire/ — Eve Air Mobility (“Eve”) (NYSE: EVEX; EVEXW), a global manufacturer and service provider of electric vertical takeoff and landing (eVTOL) aircraft, announced $94 million in a new equity financing from several investors. The financing, which includes the issuance of new common shares and warrants, includes participation from a diverse group of global industrial companies, including Embraer, Nidec and other financial investors. The new funding strongly positions the company for future success and will support the continued development and manufacturing of the company’s eVTOL.

“We appreciate the trust these investors have placed in Eve. The new equity, along with existing liquidity and credit lines, ensures that Eve is well positioned as we continue to build momentum and progress in the development and manufacturing of our eVTOL,” said Eduardo Couto, financial director of Eve Air Mobility. “With the largest pre-order backlog in the industry, with letters of intent for 2,900 devices and strong program development partners, Eve has continued to demonstrate the opportunity our company presents to strategic and financial investors. »

The Company has entered into agreements, dated June 28, 2024, for the issuance and sale of 23,500,000 new shares of common stock of the Company at a purchase price of $4.00 per share, the exchange of certain warrants for common shares and the grant of warrants to certain investors. The private placement is expected to generate gross proceeds to Eve of $94 millionbefore deducting other offering costs.

The equity financing is expected to close in the coming weeks, subject to the satisfaction of customary closing conditions. Additional details regarding the equity financing are included in a Form 8-K filed by Eve with the Securities and Exchange Commission (“SEC”).

Eve’s eVTOL aircraft uses eight dedicated vertical flight propellers and fixed wings to cruise, with no change in the position of these components during flight. The concept includes an electric pusher powered by two electric motors which provide propulsion redundancy with the aim of ensuring the highest levels of performance and safety. While offering many advantages including lower operating cost, fewer parts, optimized structures and systems, it has been developed to provide efficient thrust with low noise.

The company is completing the assembly of its first full-size eVTOL prototype, which will be followed by a test campaign. At the same time, Eve continues to develop a comprehensive portfolio of agnostic operations services and solutions, including Vector, a unique urban air traffic management software to optimize and scale advanced air mobility operations worldwide.

The Company has retained Bradesco BBI as its exclusive financial advisor and Skadden, Arps, Slate, Meagher & Flom as its legal advisor.

The securities sold in the equity financing have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold United States in the absence of registration with the SEC or an applicable exemption from such registration requirements. The Company has agreed to file a registration statement with the SEC covering the resale of the shares and the shares underlying the warrants issuable in the private placement.

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities.

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

About Eve

Eve is dedicated to accelerating the urban air mobility ecosystem. With a start-up mindset, backed by over 50 years of Embraer SA aerospace expertise, and a singular focus, Eve takes a holistic approach to advancing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global service and support network, and a unique air traffic management solution. As of May 10, 2022, Eve is listed on the New York Stock Exchange, where its common stock and public warrants trade under the symbols “EVEX” and “EVEXW.” For more information, please visit www.eveairmobility.com.

Contacts:

Media: [email protected]

Investors: [email protected]

Disclosure of Forward-Looking Statements

Certain statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “continue,” “seek,” “target,” “guidance,” “outlook,” “if current trends continue,” “optimistic,” “predict” and other similar words or expressions. All statements, other than statements of historical fact, are forward-looking statements, including, but not limited to, statements regarding the Company’s plans, objectives, expectations, outlook, projections, intentions, estimates and other statements of future events or conditions, including with respect to any companies or entities named in this release. These forward-looking statements are based on the Company’s current objectives, beliefs and expectations and are subject to significant risks and uncertainties that may cause actual results, financial condition and the timing of certain events to differ materially from the information contained in the forward-looking statements. These risks and uncertainties include, but are not limited to, those set forth herein and in Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Company’s most recent Annual Report on Form 10-K, Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 1A. Risk Factors of the Company’s most recent Quarterly Report on Form 10-Q, as well as other risks and uncertainties listed from time to time in the Company’s other filings with the Securities and Exchange Commission. In addition, other factors not currently known to the Company may affect the matters discussed in the forward-looking statements and may also cause actual results to differ materially from those discussed. The Company undertakes no obligation to publicly update or supplement any forward-looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward-looking statements, except as required by law. Forward-looking statements speak only as of the date hereof or as of the dates indicated in the statement.

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SOURCE Eve Holding, Inc.