Eve Air Mobility raises $230 million in equity capital via direct offering.

Eve Air Mobility has raised $230 million in an equity capital raise through a registered direct offering. The company will issue 47.4 million shares of common stock at $4.85 per share to institutional investors, including BNDESPAR, a subsidiary of the Brazilian Development Bank, Embraer, and other investors. This capital raise will support Eve's development of electric vertical takeoff and landing aircraft for the Urban Air Mobility market.

Eve Air Mobility (Eve) has successfully completed a $230 million equity capital raise through a registered direct offering. The company plans to issue 47,422,680 shares of common stock at $4.85 per share to institutional investors, including BNDESPAR, a subsidiary of the Brazilian Development Bank (BNDES), Embraer, and other investors [1].

The capital raise will be used to fund the development of electric vertical takeoff and landing (eVTOL) aircraft for the Urban Air Mobility (UAM) market. Eve will utilize the gross proceeds from Brazilian Depositary Receipts (BDRs) to pay for services performed in Brazil and will use the remaining net proceeds for general corporate purposes, including financing operations, possible business acquisitions or strategic investments, and repayment of outstanding indebtedness [1].

The BDRs have been approved for listing on the Sao Paulo Stock Exchange (B3) under the symbol "EVEB31" and will be delivered to BNDES in Brazil. The equity raise is expected to close on August 15, 2025, subject to customary closing conditions [1].

Eduardo Couto, Chief Financial Officer at Eve, stated, "Eve’s dual listing in the United States and Brazil is aligned with our continuous effort to diversify our investor base, bringing new stockholders from different locations." Johann Bordais, Eve’s CEO, added, "This equity raise marks a significant milestone in our journey. It supports our vision and fuels our mission to transform urban mobility. We’re proud to have BNDES onboard and we deeply value Embraer’s continued commitment to Eve and our program" [1].

Cantor Fitzgerald & Co., Raymond James & Associates, Inc., and Banco Bradesco BBI S.A. are acting as placement agents in connection with the offering of common stock in the Registered Direct Offering. Banco Bradesco BBI S.A. is acting as financial advisor to Eve [1].

References:
[1] https://www.eveairmobility.com/eve-announces-230-million-equity-capital-raise-and-dual-listing-in-the-united-states-and-brazil/
[2] https://verticalmag.com/press-releases/eve-announces-230m-equity-capital-raise-and-dual-listing-in-the-u-s-and-brazil/