• Financial restructuring with Mobile Uplift Corporation GmbH agreed
• Lilium creditors committee approved asset deal
• Deal closing expected early in January
• Deal closing prerequisite for business re-start

MUNICH, Germany, December 24th, 2024: Lilium GmbH (“Lilium”), a pioneering electric aircraft manufacturer, announced today the signing of an asset purchase agreement with Mobile Uplift Corporation GmbH, a company set up by an experienced consortium of investors from Europe and North America. Mobile Uplift Corporation GmbH intends to acquire the operating assets of the Subsidiaries Lilium GmbH and Lilium eAircraft GmbH.

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.

As previously reported, KPMG has been in discussions with potential investors who have indicated interest in the assets and/or business of the Subsidiaries. These interests have been considered by Lilium GmbH’s creditor’s committee as part of the KPMG-led M&A process aimed at delivering Lilium GmbH’s financial restructuring.

Following the closing, the parties aim to implement the planned restructuring of the Subsidiaries, which is intended to enable the Subsidiaries to exit their self-administration proceedings. 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.

“We are very pleased to announce the signing of an investment agreement with a very experienced consortium of investors, which is a major breakthrough” Lilium CEO Klaus Roewe said. “Deal closing at the beginning of January will allow us to restart our business.”

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