Lilium NV
ðŠĶ BankruptTrust Size
$380M
Peak Price
$15.46
Current Price
$0.00
Return
-100.0%
Peak Market Cap
$4.0B
What Happened
German electric air taxi company. Promised revolutionary jet-powered eVTOL. Bankrupt in October 2024 after burning $1.5B+ with no certified aircraft and no revenue.
Lilium merged with Qell Acquisition Corp in September 2021. The Munich-based company developed a 7-seat electric jet for urban air mobility. It had a slick design and impressive backing (Tencent, Baillie Gifford). But developing an entirely new category of aircraft proved impossibly expensive. Lilium burned through $1.5B+ without ever certifying its jet or generating a dollar of revenue. Filed for insolvency in October 2024. Assets were purchased by a consortium for a fraction of the investment.
Projections vs. Reality
Projected Revenue
$1.0B
What they told investors
Actual Revenue
$0
What actually happened
Key People
Daniel Wiegand
CEO & Co-founder
German engineer, ousted before bankruptcy
Klaus Roewe
Interim CEO
Ex-Airbus, brought in to try to save the company
Timeline
2021-03
SPAC merger announced
2021-09
Merger completed at $3.3B
2023-01
Stock below $2
2024-03
Running out of cash, seeking bailout
2024-10
Insolvency filed
ð Reverse Stock Split
Reverse split ratio: 1:20. Reverse splits are used to avoid delisting but destroy shareholder value through the illusion of a higher stock price.
âïļ Legal Actions
âĒ Class action lawsuit filed by shareholders
ð SEC Filings
View all EDGAR filings for Lilium NV
Risk Scores
Dilution Score
72/100
Insider Profit Index
65/100