Embraer's electric vertical takeoff and landing (eVTOL) subsidiary Eve Air Mobility will raise $230 million through a registered direct offering of 47.4 million shares at $4.85 per share.
Investors include BNDESPAR, a subsidiary of the Brazilian Development Bank (BNDES), Embraer and other institutional investors. As part of the deal, BNDES will buy Brazilian depositary receipts (BDR) — each representing one share — at $26.21 per BDR.
The company is expected to close on August 15, 2025.
The BDRs will be listed on the Sao Paulo Stock Exchange under the symbol ‘EVEB31’. Eve said proceeds from the BDR sale will pay for services performed in Brazil, and intends to use the remaining net proceeds from the registered direct offering for general corporate purposes, including financing operations, possible business acquisitions or strategic investments, and debt repayments.
“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,” said Eve CFO Eduardo Couto.
“This equity raise marks a significant milestone in our journey,” commented Eve CEO Johann Bordais. “It supports our vision and fuels our mission to transform urban mobility.”
Cantor Fitzgerald, Raymond James & Associates, and Banco Bradesco BBI are acting as placement agents in connection with the offering of common stock in the registered direct offering. Banco Bradesco BBI is acting as financial advisor to Eve.