UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of May, 2024
Commission File Number 001-40736
Lilium N.V.
(Translation of registrant’s name into English)
Galileostraße 335
82131 Gauting, Germany
Telephone: +49 160 9704 6857
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
CONTENTS
Explanatory Note
On May 15, 2024,
Lilium N.V. (“Lilium”) published a press release announcing that the Federal Government of Germany and the Free State of
Bavaria commissioned KfW, the state development bank in Frankfurt, to conduct due diligence on Lilium as part of the customary state
support process. Once the diligence is completed and results satisfactory, Lilium expects to receive guarantees from the Federal Government and the Free
State of Bavaria as security for a KfW loan that Lilium targets will be a minimum of €100 million. However, the exact amount
of such loan is yet to be determined. Lilium has accumulated an order pipeline of over 780 Lilium Jets, including binding orders and
memoranda of understanding from operators in the United States, South America, Europe, Asia, and the Middle East. Lilium anticipates
that securing a KfW loan will bolster its efforts to achieve its stated business objectives. The timing and outcome of this due
diligence exercise will depend on a number of variables, many of which are outside of Lilium’s control. There can be no
assurances that the due diligence will be completed to the satisfaction of KfW or that this process will result in any loan
guarantees or other federal or state support in Germany being provided to Lilium.
The press release is furnished as Exhibit 99.1
to this Report on Form 6-K.
Incorporation by Reference
The first paragraph of the
Explanatory Note above are hereby incorporated by reference into the Company’s registration statements on the Forms F-3 filed with
the SEC on May 3, 2024 (File No. 333-279113), November 24, 2023 (File No. 333-275742), September 18, 2023 (File
No. 333-274550), June 9, 2023 (File No. 333-272571), November 25, 2022, as amended or supplemented (File No. 333-268562),
and October 3, 2022, as amended or supplemented (File Nos. 333- 267718 and 333-267719), and the Company’s registration statements
on Form S-8 filed with the SEC on November 18, 2021 (File No. 333-261175) and March 21, 2024 (File No. 333-278148).
Forward-Looking Statements
The information contained
in this Report on Form 6-K and the Exhibit attached hereto contain certain forward-looking statements within the meaning of
the U.S. federal securities laws, including, but not limited to, statements regarding: (i) Lilium N.V.’s and its subsidiaries
(collectively, the “Lilium Group”) proposed business and business model; (ii) the markets and industry in which the Lilium
Group operates or intends to operate, including the estimated potential size of the global eVTOL market; (iii) the anticipated timing
of the commercialization and launch of the Lilium Group’s business in phases, including the Lilium Jet’s entry into service;
(iv) Lilium’s order pipeline and the prospect of such orders resulting in future sales of Lilium Jets if and when type certification
is achieved; and (v) the timing and outcome of open-end due diligence commissioned by the Federal Government of Germany and the possibility
of any related state development bank loans. These forward-looking statements generally are identified by the words “anticipate,”
“could,” “expect,” “estimate,” “future,” “intend,” “may,” “plan,”
“target,” “will,” and similar expressions. Forward-looking statements are predictions, projections, and other
statements about future events that are based on management’s current expectations with respect to future events and are based on
assumptions and are subject to risk and uncertainties that are subject to change at any time. Actual events or results may differ materially
from those contained in the forward-looking statements. Factors that could cause actual future events to differ materially from the forward-looking
statements in this Report on Form 6-K and the Exhibit attached hereto include those risks and uncertainties discussed in Lilium’s
filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the section titled “Risk Factors”
in our Annual Report on Form 20-F for the year ended December 31, 2023, on file with the SEC, and similarly titled sections
in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking statements speak only as of the date they
are made. You are cautioned not to put undue reliance on forward-looking statements, and Lilium assumes no obligation to, and does not
intend to, update, or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
| Dated: May 15, 2024 |
Lilium N.V. |
| |
|
|
| |
By: |
/s/ Klaus Roewe |
| |
Name: |
Klaus Roewe |
| |
Title: |
Chief Executive Officer and Executive Director |
EXHIBIT INDEX
Exhibit 99.1
Lilium Welcomes KfW Due Diligence Undertaking
| ● | Diligence undertaking by KfW is a decisive step towards public support of Lilium |
| ● | CEO Klaus Roewe: “We are expecting a swift process.” |
| ● | Lilium targets minimum € 100 million KfW loan secured by default guarantee from the federal government and Bavaria |
MUNICH, GERMANY, May 15, 2024: The
Federal Government of Germany and the Free State of Bavaria have commissioned the state development bank KfW in Frankfurt to conduct
due diligence on Lilium (NASDAQ: LILM), developer of the first all-electric vertical take-off and landing (“eVTOL”) jet
and global pioneer in Regional Air Mobility (RAM), as part of the customary state support process. Once the diligence is completed and results satisfactory,
Lilium expects to receive guarantees from the Federal Government and the Free State of Bavaria as security for a KfW loan, the exact
amount of which is yet to be determined.
“We would like to thank those responsible
in Berlin and Munich for their decision and the constructive cooperation over the last few weeks,” said Lilium CEO Klaus Roewe.
“We expect due diligence to be swift as transparency is a daily routine for us as a listed company, so we expect the diligence process
to be swift.” Roewe continued:
“Electrification is in strong public interest
as a contribution to the necessary decarbonization of the industry. German government support is not only about creating a level playing
field with the USA and China, but also about Germany signaling to the financial markets that innovations and new technologies are supported
in Germany.”
Lilium is a world-leading pioneer in electric
aviation and the only manufacturer worldwide with a certification basis for a powered lift eVTOL aircraft in Europe and the USA. Founded
in 2015 by four graduates of the Technical University of Munich, and located at the Oberpfaffenhofen airport, near Munich, Germany, Lilium
currently employs a workforce of over 1,000, more than 80% of whom work in highly specialized engineering and manufacturing fields. Lilium
has a very international workforce and is building a strong European set-up: Lilium N.V. is registered in The Netherlands, Lilium has
its Headquarters, design/engineering and industrial facilities in Munich, and a flight test center in Spain. The company recently announced
its discussions with the French government to explore the expansion of its industrial footprint into France.
Initial production of the Lilium Jet began
in 2023 with entry into service planned for 2026. Lilium has accumulated an order pipeline of over 780 Lilium Jets, including
binding orders and MoU agreements from operators in the United States, South America, Europe, Asia, and the Middle East. According
to estimates by Morgan Stanley as of 2021, the global eVTOL market could be worth $1 trillion in global revenues by 2040.
Contact information for media:
Rainer Ohler
+49 172 4890353
rainer.ohler.ext@lilium.com
press@lilium.com
Contact information for investors:
Rama Bondada
Vice President, Investor Relations
investors@lilium.com
About Lilium:
Lilium (NASDAQ: LILM) is creating a sustainable
and accessible mode of high-speed, regional transportation for people and goods. Using the Lilium Jet, an all-electric vertical take-off
and landing jet, designed to offer leading capacity, low noise, and high performance with zero operating emissions, Lilium is accelerating
the decarbonization of air travel. Working with aerospace, technology, and infrastructure leaders, and with announced sales and indications
of interest in Europe, the United States, China, Brazil, the UK, the United Arab Emirates, and the Kingdom of Saudi Arabia, Lilium’s
1,000 strong team includes approximately 500 aerospace engineers and a leadership team responsible for delivering some of the most successful
aircraft in aviation history. Founded in 2015, Lilium’s headquarters and manufacturing facilities are in Munich, Germany, with teams
based across Europe and the U.S. To learn more, visit www.lilium.com.
Lilium Forward Looking Statements:
This press release contains certain
forward-looking statements within the meaning of the U.S. federal securities laws, including, but not limited to, statements
regarding: (i) Lilium N.V.’s and its subsidiaries (collectively, the “Lilium Group”) proposed business and
business model; (ii) the markets and industry in which the Lilium Group operates or intends to operate, including the estimated
potential size of the global eVTOL market; (iii) the anticipated timing of the commercialization and launch of the Lilium
Group’s business in phases, including the timing of the first manned flight and the Lilium Jet’s entry into service; and
(iv) the timing and successful completion of the diligence exercise by KfW and the anticipated timing, size, form, and closing, if
at all, of any financial investment from KfW or guarantee from the federal government of Germany or the Free State of Bavaria. These
forward-looking statements generally are identified by the words “anticipate,” “believe,”
“could,” “expect,” “estimate,” “future,” “intend,” “may,”
“on track,” “plan,” “project,” “should,” “strategy,”
“targeted,” “will,” “would” and similar expressions. Forward-looking statements are predictions,
projections, and other statements about future events that are based on management’s current expectations with respect to
future events and are based on assumptions and are subject to risk and uncertainties that are subject to change at any time. Actual
events or results may differ materially from those contained in the forward-looking statements. Factors that could cause actual
future events to differ materially from the forward-looking statements in this press release include those risks and uncertainties
discussed in Lilium’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including in the
section titled “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, on file with the
SEC, and similarly titled sections in Lilium’s other SEC filings, all of which are available at www.sec.gov. Forward-looking
statements speak only as of the date they are made. You are cautioned not to put undue reliance on forward-looking statements, and
Lilium assumes no obligation to, and does not intend to, update, or revise these forward-looking statements, whether as a result of
new information, future events or otherwise.
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