Ropes & Gray Advises Lilium, Maker of Electric Vertical Take-off and Landing Jet, in Agreement with Qell Acquisition
Ropes & Gray advised Lilium GmbH, positioned to be the global leader in regional electric air mobility, in its business combination agreement with Qell Acquisition Corp., a publicly listed special purpose acquisition company (Nasdaq: QELL). Qell, led by Barry Engle, a former president of General Motors North America, is focused on developing next-generation, sustainable mobility. It includes development of its electric vertical take-off and landing jet. Upon closing of the transaction, the company will be called Lilium, and it is anticipated that ordinary shares will be listed on the Nasdaq under the ticker symbol LILM. The transaction was announced in a press release.
The team advising Lilium is led by mergers & acquisitions and capital markets partners Carl Marcellino (New York). It included mergers & acquisitions and capital markets partners Tara Fisher (Boston), Paul Tropp (New York) and Libby Todd (London), tax partner Elaine Murphy (Boston), IP transactions partner Regina Sam Penti (Boston) and benefits partners Renata Ferrari and Loretta Richard (both of Boston).