Gains Listing On Brazilian Stock Exchange

Eve Air Mobility, Embraer’s Advanced Air Mobility division, announced it has raised an additional $230 million through a common stock offering of 47.2 million shares at $4.85 per share. Eve also announced it will be listed on the Sao Paolo Stock Exchange.

The offering was subscribed by BNDESPAR, a subsidiary of the Brazilian Development Bank BNDES, Embraer, and other institutional investors.

Since 2022, Eve has traded on the New York Stock Exchange in the U.S. under the ticker EVEX, and the dual listing is possible through the subscription by BNDES of Brazilian Depositary Receipts that will trade in Brazil under the EVEB31 ticker symbol.

The infusion of fresh capital will allow Eve to continue on its path to certification of its aircraft as well as pay for general corporate expenses and operations in Brazil. The company may also use proceeds from the sale for strategic investments, debt service, or strategic acquisitions.

Eduardo Couto, Chief Financial Officer at Eve said, “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.”

Eve CEO Johann Bordais said, “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.”

FMI:  www.eveairmobility.com/