Eve Air Mobility—Embarked by Embraer to lead the charge in Urban Air Mobility (UAM)—has just unlocked a major boost for its futuristic eVTOL ambitions. The company announced $230 million in equity capital raised through a direct offering, while rolling out a dual listing on both the U.S. stock market and Brazil’s B3 exchange.
What’s in the Deal?
- Eve is selling 47.4 million common shares at $4.85 per share, with BNDESPAR (the Brazilian Development Bank’s investment arm), Embraer, and other institutional players joining in.
- In Brazil, BNDES will receive Brazilian Depositary Receipts (BDRs)—each representing one Eve share—priced at R$26.21. These will trade on B3 under the ticker EVEB31.
- Proceeds from the BDR sale will fund services in Brazil, while the remaining capital supports general operations: R&D, debts, and future strategic moves.
Why It Matters
According to CFO Eduardo Couto, the dual-listing strategy helps diversify Eve’s investor reach across continents. CEO Johann Bordais called the capital raise “a huge milestone” that energizes Eve’s road to transform urban mobility—and praised the heavyweight backing from BNDES and Embraer.
Eve’s Financial Backdrop
This raise is not Eve’s first partnership with BNDES. Back in October 2024, Eve secured an $88 million loan from BNDES to launch its initial eVTOL production facility in Taubaté, Brazil—aiming for annual capacity of 480 aircraft.
Eve’s ambitions run deep: more than 2,800 pre-orders valued at around $8 billion suggest strong market confidence.
At a Glance
| Highlight | Details |
|---|---|
| Raised Capital | $230 million from equity offering |
| Markets | Dual-listed on NYSE and Brazil’s B3 (as EVEB31) |
| Funding Allocation | Brazil-related services via BDRs; broader corporate needs using net proceeds |
| Key Supporters | BNDESPAR, Embraer, institutional investors |
| Earlier BNDES Funding | $88 million loan for eVTOL factory in Taubaté, Brazil (capacity: 480/yr) |
| Current Backlog | ~2,800 orders, ~$8 billion in potential revenue |
