Eve Air Mobility Raises $230M in Direct Offering for eVTOL Development

Eve Air Mobility announced a $230 million registered direct offering of common stock to accelerate development of its urban air mobility ecosystem. The company will issue 47,422,680 shares at $4.85 per share, according to a company press release.

As part of the strategic move, Eve is establishing a dual listing. While continuing its presence on the New York Stock Exchange (NYSE: EVEX), the company will now trade Brazilian Depositary Receipts on the São Paulo Stock Exchange (B3) under ticker EVEB31. BNDESPAR, the investment arm of Brazil's national development bank, will subscribe to these BDRs at R$26.21 each, signaling strong state-backed support for the eVTOL program.

The capital raise provides significant liquidity for Eve's certification and industrialization efforts. Proceeds from the BDRs will fund services performed in Brazil, while remaining net proceeds will support general corporate purposes, including ongoing operations, potential strategic acquisitions and debt repayment. Backed by parent company Embraer, Eve is developing a comprehensive urban air mobility suite that extends beyond its electric vertical takeoff and landing aircraft to include the Vector urban air traffic management platform and TechCare support services. The transaction is expected to close by Aug. 15, 2025, with placement agents Cantor Fitzgerald, Raymond James and Bradesco BBI facilitating the deal.