Air taxi firm Lilium plunges 62% after saying main subsidiaries will file for insolvency

Shares of Lilium tanked Thursday after the air taxi firm said in a filing that its two main subsidiaries plan on filing for insolvency in the coming days.The aerospace startup's shares plunged more than 63% following the news.In a U.S. regulatory filing, Lilium — which is listed on the Nasdaq — said it had not been able to raise sufficient additional funds to continue the operations of Lilium GmbH and Lilium eAircraft GmbH, the firm's two main subsidiaries.As a result, the heads of these subsidiaries "deter ...