Eve Air Mobility Says BDRs Approved For Listing On B3 Under 'EVEB31'; To Be Delivered To BNDES In Brazil

Author: Benzinga Newsdesk | August 14, 2025 07:24am

Eve Air Mobility (Eve) (NYSE:EVEX), a company dedicated to the development of a suite of solutions for the Urban Air Mobility (UAM) market, including an electric vertical takeoff and landing (eVTOL) aircraft, today announced that it has entered into subscription agreements with BNDESPAR, a subsidiary of the Brazilian Development Bank (BNDES), Embraer and other institutional investors to issue and sell, in a capital raise via a registered direct offering, a total of 47,422,680 shares of common stock at $4.85 per share. It includes the subscription of Brazilian Depositary Receipts (BDRs) by BNDES, each of which represents one share of common stock at R$26.21 per BDR1, for total gross proceeds of $230 million, before deducting placement agent commissions and estimated offering expenses (the Registered Direct Offering), which is expected to close on August 15, 20252.

The BDRs have been approved for listing on the Sao Paulo Stock Exchange (B3) under the symbol "EVEB31" and will be delivered to BNDES in Brazil. Eve will utilize the gross proceeds from BDRs to 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 repayment of outstanding indebtedness.

Posted In: EVEX