Lilium Faces Insolvency and Nasdaq Delisting

Lilium (LILM) has released an update.

Lilium N.V. faces significant financial challenges, leading to insolvency proceedings for its German subsidiaries after failing to secure necessary funding from the government and other sources. The company is set to file for insolvency in Germany, risking the delisting of its shares from Nasdaq, which could result in a complete loss for shareholders. Efforts are underway to identify potential investors through KPMG, but the future remains uncertain as Lilium navigates these financial hurdles.

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