Lilium (NASDAQ:LILM) has successfully regained compliance with Nasdaq's minimum bid price requirement, as per a recent SEC filing.

The company received a notice from Nasdaq Stock Market on May 15, 2024, confirming that it had met the necessary condition of maintaining a closing bid price of at least $1 per share for a minimum of 10 consecutive trading days.

This development comes after Lilium was previously notified of its non-compliance on February 22, 2024, due to its share price falling below the $1 threshold from January 9 to February 21, 2024.

The restoration of compliance with Nasdaq's Listing Rules marks a significant turnaround for Lilium, averting potential delisting risks.

The company was given until August 20, 2024, to rectify the issue but managed to achieve the required share price stability well in advance.