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Eve Holding Inc

For the period ended Dec 31, 2023. Filed Mar 8, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 8, 2024

EVEX$1.85+17.8%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31, 2023

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File No. 001-39704

(Exact name of registrant as specified in its charter)

Delaware85-2549808
(State or other jurisdiction of incorporation or organization)(I.R.S. EmployerIdentification No.)
1400 General Aviation Drive Melbourne, FL 32935
(Address of Principal Executive Offices, including zip code)

(321) 751-5050

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.001 per share Warrants, each whole warrant exercisable for one share of Common StockEVEX EVEXWThe New York Stock Exchange The New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is alarge accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of“large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12 b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10 D-1(b).☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12 b-2 of the Exchange Act): Yes ☐ No ☒

The aggregate market value of the registrant’s common stock outstanding, other than shares held by persons who may be deemed affiliates of the registrant, computed as of June 30, 2023 (the last business day of the registrant’s most recently completed second fiscal quarter), was approximately$286.1 million.

As of March 8, 2024, there were 269,365,708 shares of common stock, par value $0.001 per share, issued and outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

The information required by Part III of this Report, to the extent not set forth herein, is incorporated herein by reference from the registrant’s definitive proxy statement relating to the annual meeting of stockholders to be held in 2024, which definitive proxy statement shall be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year to which this Report relates.

EVE HOLDING, INC.****

Page
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS1
PART I2
Item 1. Business2
Item 1A. Risk Factors14
Item 1B. Unresolved Staff Comments56
Item 1C. Cybersecurity56
Item 2. Properties57
Item 3. Legal Proceedings57
Item 4. Mine Safety Disclosures57
PART II58
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities58
Item 6. [Reserved]58
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations59
Item 7A. Quantitative and Qualitative Disclosures About Market Risk69
Item 8. Financial Statements and Supplementary Data70
Report of Independent Registered Public Accounting Firm (PCAOB ID 185)71
Report of Independent Registered Public Accounting Firm (PCAOB ID 238)72
Consolidated Balance SheetsF-1
Consolidated Statements of OperationsF-2
Consolidated Statements of Comprehensive LossF-2
Consolidated Statements of EquityF-3
Consolidated Statements of Cash FlowsF-4
Notes to Consolidated Financial StatementsF-5
Note 1 – Organization and Nature of BusinessF-5
Note 2 – Significant Accounting PoliciesF-6
Note 3 – Cash and Cash EquivalentsF-9
Note 4 – Financial InvestmentsF-9
Note 5 – Related Party TransactionsF-10
Note 6 – Other Balance Sheet ComponentsF-11
Note 7 – DebtF-12
Note 8 – Derivative Financial InstrumentsF-14
Note 9 – Fair Value MeasurementsF-14
Note 10 – EquityF-14
Note 11 – Common Stock WarrantsF-15
Note 12 – Share-Based CompensationF-17
Note 13 – Earnings Per ShareF-19
Note 14 – Research and Development ExpensesF-20
Note 15 – Selling, General and Administrative ExpensesF-20
Note 16 – Income TaxesF-20
Note 17 – LeasesF-23
Note 18 – Commitments ​and ContingenciesF-24
Note 19 – SegmentsF-24
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure74
Item 9A. Controls and Procedures74
Item 9B. Other Information75
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection75
PART III76
Item 10. Directors, Executive Officers and Corporate Governance76
Item 11. Executive Compensation76
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters76
Item 13. Certain Relationships and Related Transactions, and Director Independence76
Item 14. Principal Accountant Fees and Services76
PART IV77
Item 15. Exhibits, Financial Statement Schedules77
Signatures81
ContentsView on SEC.gov

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