Lilium Initiates Insolvency Proceedings Amid Board Changes

Lilium (LILMF) has released an update.

Lilium N.V. has initiated insolvency proceedings in Germany, appointing a preliminary insolvency administrator to manage its assets and operations. This move follows the recent resignation of board members Niklas Zennström and David Wallerstein, who left without citing any operational disagreements. Investors are closely watching these developments as Lilium navigates this challenging financial situation.

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