Homburger advised Qell Acquisition Corp. in its definitive business combination agreement with Lilium GmbH

On March 30, 2021, Qell Acquisition Corp. (Nasdaq: QELL), a publicly listed special purpose acquisition company, announced that it has entered into a definitive business combination agreement with Lilium GmbH, the global leader in regional electric air mobility. The transaction values the combined company at an implied $ 3.3 bn pro forma equity value.

The transaction is expected to close in the second quarter of 2021, subject to the approval by Qell Acquisition Corp.’s shareholders and the satisfaction or waiver of customary closing conditions. 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.

Homburger acted as Swiss counsel to Qell Acquisition Corp. in connection with the transaction. The Homburger team was led by senior partner Daniel Daeniker and included associates Carlo Sulser and Stefan Luginbühl as well as junior associate Tanja Niederer (all Corporate / M&A).