Lilium Engages KPMG for M&A Amid Restructuring Efforts

Lilium N.V., a leader in electric aircraft, has announced the commencement of an M&A process led by KPMG to ensure transparency and fairness while navigating insolvency proceedings. The proceeding, approved by the Weilheim court, involves Lilium's German subsidiaries and aims at business preservation. The court has appointed experts, including Chief Insolvency Officers and a custodian, to oversee restructuring. This restructuring intends to attract new investment for Lilium's electric jet certification and operational launch. Meanwhile, Lilium continues assembling its first jets, with significant milestones like initial power-on for the first aircraft achieved. However, trading on NASDAQ will be suspended, affecting stock liquidity. Lilium has firm and potential orders exceeding 780 jets globally, reflecting sustained interest despite financial hurdles.