Announcement • Mar 13
Nasdaq to Delist the Class A Ordinary Shares, Warrant of Lilium NV Nasdaq announced that it will delist the Class A ordinary shares, warrant of Lilium NV. Lilium N.V.’s stock was suspended on November 06, 2024 and has not traded on Nasdaq since that time. Announcement • Dec 26
Mobile Uplift Corporation GmbH signed an asset purchase agreement to acquire Operating assets of Lilium GmbH and Lilium eAircraft GmbH from Lilium N.V. (OTCPK:LILM.F). Mobile Uplift Corporation GmbH signed an asset purchase agreement to acquire Operating assets of Lilium GmbH and Lilium eAircraft GmbH from Lilium N.V. (OTCPK:LILM.F) on December 24, 2024. Subject to the satisfaction of certain conditions precedent, Lilium expects that the agreement positions the Subsidiaries to obtain sufficient funding to restart their business operations. Proceeds received from the sale will be utilized according to German Insolvency Law, with no amounts being distributed to Lilium N.V. On December 20, 2024, the Subsidiaries terminated the contracts of their remaining employees in accordance with German law, which employees the Mobile Uplift Corporation GmbH intends to employ immediately after opening of the proceedings and closing of the transaction.
Deal closing is currently expected for early January 2025 and is subject to the satisfaction of certain customary conditions precedent, including opening of the proceedings and consent of the creditors committee. Announcement • Nov 08
The Law Offices of Frank R. Cruz Files Securities Fraud Lawsuit Against Lilium N.V The Law Offices of Frank R. Cruz announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Kloster v. Lilium N.V., et al., Case No. 1:24-cv-08479, on behalf of persons and entities that purchased or otherwise acquired Lilium N.V. (Lilium or the Company) securities between June 11, 2024 and November 3, 2024, inclusive (the Class Period). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the Exchange Act). Investors are hereby notified that they have until 60 days from this notice to move the Court to serve as lead plaintiff in this action. On October 24, 2024, before the market opened, Lilium disclosed that it had been unable to raise sufficient additional funds to continue the operations of the Company’s principal operating wholly owned German subsidiaries. As a result, the managing directors of the subsidiaries determined that they are overindebted and are, or will, become unable to pay their existing liabilities. Then, on November 4, 2024, before the market opened, the Company reported that, following the insolvency of the Company’s subsidiaries, Lilium had not been able to raise sufficient additional funds to conduct its ongoing business consistent with past practice. Specifically, Defendants failed to disclose to investors: Defendants overstated the progress of the Company’s fundraising activities; Defendants overstated the likelihood and/or feasibility of obtaining sufficient funding to continue operations; Defendants failed to sufficiently disclose the imminent insolvency of the Company and its subsidiaries; and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. 
