Lilium (LILM) announced that it has received indication that the budget committee of the parliament of the Federal Republic of Germany will not approve an EUR 50M guarantee of a contemplated EUR 100M convertible loan for Lilium from KfW, a German public law institution serving domestic and international public policy objectives of the federal government of Germany. Lilium said it is continuing discussions with the Free State of Bavaria with respect to a guarantee of at least EUR 50M. Shares of Lilium are down 12% to 61c following the disclosure.
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