Lilium Launches M&A Course of with KPMG, Targets Program Continuation In direction of First Flight and Certification – sUAS Information


  • KPMG mandated for a structured M&A course of – first investor briefings to start out quickly  
  • Native courtroom authorised insolvency filings of Lilium’s German subsidiaries and appoints custodian and Chief Insolvency Officers (CIOs) 
  • The Lilium enterprise stays totally targeted on re-emerging following restructuring; setting sights on recent funding to help the all-electric Lilium Jet’s path to certification and entry into service 
  • Groups on the bottom proceed to work in direction of reaching program milestones; Lilium Jet fuselage enters static take a look at rig 

Lilium N.V. (Nasdaq: LILM), a number one electrical plane producer and pioneer in Regional Air Mobility (RAM), declares that it has appointed KPMG to conduct an open, clear and honest M&A course of. First investor briefings will begin quickly.  

This adopted the native courtroom of Weilheim’s  approval of the insolvency submitting of Lilium’s German subsidiaries and the courtroom’s granting of Lilium’s utility for self-administration.  

Preliminary insolvency proceedings beneath self-administration are court-ordered restructuring proceedings aimed toward preserving the enterprise. The administration stays in cost and leads the enterprise by way of the proceedings, supported by restructuring specialists. 

The courtroom has appointed to the German subsidiaries’ Boards of Administration with quick impact two restructuring-experienced attorneys, Prof. Dr. Gerrit Hölzle and Dr. Thorsten Bieg as Chief Insolvency Officers (CIOs). Each have already efficiently suggested numerous firms in disaster conditions. Most not too long ago, they labored for Senvion and The Social Chain AG, amongst others. They are going to now oversee the reorganization of Lilium’s German subsidiaries. 

The Native Court docket of Weilheim has additionally appointed lawyer Mr. Ivo-Meinert Willrodt, Managing Accomplice at PLUTA Rechtsanwalts GmbH, because the provisional custodian. The restructuring professional is an lawyer and specialist lawyer for insolvency and restructuring legislation and has already acted as trustee for the photo voltaic automotive start-up Sono Motors and the drone producer EMT, amongst others. His function is to guard the pursuits of the collectors within the proceedings.  

Lilium CEO Klaus Roewe welcomed the appointments: “With the help of our appointed custodian and the restructuring specialists, we at Lilium stay totally targeted on re-emerging following restructuring, with recent funding to help the all-electric Lilium Jet’s path to certification and entry into service.” 

Work at Lilium’s subsidiaries continues, with the greater than 1,000 staff engaged in progressing in direction of the following important program milestone, first manned flight, having been knowledgeable on the main points of continued worker cost. The enterprise has additionally knowledgeable affected suppliers, outlining expectations and procedural steps. 

The primary two Lilium Jets are presently on the ultimate meeting line, with the primary plane having not too long ago accomplished the preliminary low-voltage power-on milestone and as a consequence of advance shortly into the bottom testing part. The fuselage and wings of the third plane are presently in meeting at aerostructures suppliers Aciturri and Aernnova. Finish of October, Lilium engineers moved a completely assembled, conforming Lilium Jet airframe into the static take a look at rig for structural testing, in a major advance for this system. The structural power take a look at is an important a part of the testing plan for first manned flight and sort certification.

The enterprise’ present order pipeline consists of agency orders, reservations, choices, and memoranda of understanding for greater than 780 Lilium Jets to operators within the U.S., South America, Europe, Asia, and the Center East. 

Lilium has been notified by NASDAQ that buying and selling of the corporate’s shares and warrants can be suspended on the opening of enterprise on November 6.  Following buying and selling suspension, the Firm’s abnormal shares might begin buying and selling over-the-counter, which can end in considerably decrease buying and selling volumes and will additional depress the share value.  

Lilium N.V.’s Board of Administrators approved Lilium’s listed entity, the Netherlands-registered public restricted legal responsibility firm (naamloze vennootschap) to file for insolvency on Sunday, 4th of November 2024.  


Uncover extra from sUAS Information

Subscribe to get the most recent posts despatched to your e mail.

Leave a Reply

Your email address will not be published. Required fields are marked *