08:56 AM EDT, 05/15/2024 (MT Newswires) -- Lilium (LILM) said Wednesday that as part of the standard state support process, the Federal Government of Germany and the Free State of Bavaria have tasked KfW development bank with conducting due diligence on Lilium.

Upon completion of the diligence process, Lilium said it anticipates securing guarantees from the Federal Government and the Free State of Bavaria for a 100 million euros ($108.6 million) KfW loan.

Shares of Lilium were up 3.2% in recent Wednesday premarket activity.

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